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Siren token plunges 70% after warnings of concentrated holdings spark sell-off

Technical Signals
24 Mar 2026
Cointelegraph
View Source
Bearish
pluang ai news

The Siren (SIREN) token fell nearly 70% from $2.56 to $0.79 in one day after analysts flagged that a small group of wallets controls up to 88% of its supply. This concentration raised concerns that one party cornered the token supply to profit from derivatives, causing extreme volatility. The token had surged over 1,300% in a month before the crash. The sell-off highlights risks in tokens with thin liquidity and concentrated ownership, suggesting potential for sharp price moves if large holders sell.

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