Siren token slides 70% after analysts flag concentrated holdings
Onchain analyst EmberCN warned that Siren’s rally may stem from one party cornering spot supply to profit via derivatives.
Update March 25, 2026, 6:30 am UTC: This article has been updated to add comments from Bubblemaps CEO Nicolas Vaiman.
The Siren (SIREN) token plunged nearly 70% on Tuesday, reversing a rapid rally as onchain analysts warned that a small cluster of wallets may control a large share of the token’s supply.
According to CoinGecko data, the token dropped nearly 70% from a high of $2.56 early Tuesday to a low of $0.79 on the same day. At the time of writing, Siren hovered around $1.