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SIREN token crashes over 70% after rapid rally amid supply concentration concerns

Market News
24 Mar 2026
Crypto news
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Bearish
pluang ai news

SIREN, an AI-focused token on the BNB Chain, surged from $0.40 to an all-time high of $3.61 on March 22 before crashing over 70% to around $1.01 by March 24. The sharp decline followed concerns about supply concentration, with nearly 50% of tokens held by a few wallets, raising fears of large sell-offs. Market sentiment turned bearish as scrutiny increased, leaving SIREN struggling to maintain support above $1 amid volatile trading. This highlights risks in tokens with concentrated holdings despite short-term rallies.

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