SIREN Token Collapses as Whale Dumps 92% of Total Supply for $64.8 Million

Onchain investigators flagged extreme concentration ahead of the crash, with some estimates putting as much as 94% of SIREN’s supply in a single entity’s control. When that holder began selling, the thin order book offered little support.

For a token whose supply was so tightly held, the episode followed a familiar pump-and-dump template, in which a dominant holder distributes into retail demand before the price implodes.