According to reports from AMBCrypto, SIREN experienced a devastating 83% price crash over the past 24 hours, falling from approximately $1.77 to $0.28. This dramatic decline has resulted in the token's market capitalization plummeting from over $1 billion to slightly above $200 million. The price action broke below a multi-week rising support level after bouncing off it three times, indicating the momentum was unstable and susceptible to significant downside pressure. Latest analysis from AInvest News confirms the token has now fallen over 70% from its all-time high of $3.00, currently trading around $1.05.
As reported by AMBCrypto, the crash was driven by three major factors: profit-taking after the price hit $2 from around $0.70, selling pressure with daily volume spiking by 983%, and leveraged shorts totaling over $20 million on Binance Futures market. The technical indicators showed bearish signals with RSI Divergence flipping bearish and MACD turning red, while the memecoin traded in a symmetrical wedge pattern. AInvest News analysis reveals the primary risk is complete collapse of confidence due to up to 88.5% of tokens controlled by a single entity, making the asset vulnerable to rug pull or coordinated sell-off. The recent crash has already wiped out over 70% of its value, with dried-up volume leaving no fundamental demand to support price.
According to AMBCrypto analysis, the SIREN-controlling address made significant moves during the crash. The wallet initially sold approximately 500K SIREN at an average fee of $0.95 for $473K, but after the 83% decline, the same address returned to buying, purchasing 1 million SIREN worth $273K. Their total holdings now stand at 645.5 million SIREN, worth $212 million. Onchain holders spiked from 39.85K to 44.58K overnight, indicating intense buying activity that could potentially salvage the declining price action. The setup is characterized as concentrated, speculative capital with no structural floor according to AInvest News analysis.
As reported by AMBCrypto, the significant amount held in one account raises concerns about concentration risk, but the increased number of holders during the crash suggests broader market participation. The controlling address's previous buying activity has historically driven price increases, while their selling has led to declines. The pattern indicates a continuation or reversal setup, with structure confirmations needed before determining whether the price crash will continue or if the SIREN-controlling address will move to salvage the token. AInvest News warns that capital exiting a concentrated, leveraged bet rather than flowing in, with the token showing severe distribution and no fundamental demand to support price recovery.
