- The AI-themed token on BNB Chain, SIREN, plunged from its all-time excessive round $3.65 to round $1, wiping out billions in market worth inside hours.
- The sharp drop was seen instantly after on-chain investigators like Bubblemaps and ZachXBT revealed {that a} single entity controls close to 50% of the full SIREN provide
- Additionally they talked about suspicious hyperlinks to DWF Labs
On March 24, Siren (SIREN) witnessed a pointy crash after shedding over 55% in worth in simply 24 hours, sparking concern in its group amid rising concern in regards to the legitimacy of the mission.
On the time of writing, Siren (SIREN) is buying and selling at round $1.02, together with a market capitalization of $744 million after shedding over half of it in a single day. This sort of heavy crash is elevating the query of potential rug pull in the neighborhood.
SIREN Loses Half Worth on Hidden Pockets Cluster
Siren, or SIREN, is an AI-based cryptocurrency token developed on the BNB Chain. It launched in February 2025 as a “first on-chain AI agent analyst.” Nonetheless, it didn’t seize the eye of the market and stayed silent for a very long time with small each day buying and selling quantity.
In opposition to all odds, this mission has witnessed a meteoric rise in early 2026 after its value and market capitalization skyrocketed. By March 22, it hit an all-time excessive of round $3.83 together with its market capitalization of $2 billion at peak, making it one of many scorching trending tokek in a bearish market.
Nonetheless, once more desk turned 180 levels on Tuesday when two on-chain investigators raised severe crimson flags. After their warnings, the Siren value began to tumble onerous. As of now, the SIREN value is buying and selling at round $1.02, which is down by 55.81% within the final 24 hours. Its market capitalization has fallen to roughly $744 million, 24-hour buying and selling quantity is round $73 million, and the circulating provide revolves round 728 million SIREN cash.
The warnings got here immediately from Bubblemaps, a preferred on-chain analytics platform, and ZachXBT, an on-chain sleuth. On March 23, Bubblemaps shared a publish on X (previously Twitter).
Warning: 🚨 One entity controls ~50% of $SIREN
One cluster holding over $1,000,000,000
This solely ends a technique pic.twitter.com/czgthkU8rz
— Bubblemaps (@bubblemaps) March 23, 2026
Within the publish, Bubblemaps defined the small print by highlighting a cluster of greater than 200 wallets that had been funded via PancakeSwap. These wallets bought SIREN in two massive batches: one in June 2025 and once more in February 2025, when the worth was very low. The tokens had been then unfold throughout 47 completely different addresses.
Proper now, this single group controls about 47% to 50% of your entire provide, which is price roughly $1.3 billion on the latest value.
On the identical day, ZachXBT shared an identical publish, the place he mentioned, “I began graphing the 48.5% SIREN cluster right now on BSC and seen the addresses hyperlink to a number of obscure DWF-affiliated tokens on-chain (LADYS, RACA, TOMO, and many others).”
He didn’t identify the proprietor of the cluster however identified clear on-chain connections to tokens beforehand linked to DWF Labs. The cluster’s wallets had additionally withdrawn giant quantities, round 484 million SIREN, from a vesting platform known as Hedgey Finance simply earlier than the worth surge. This makes early low cost buys into enormous paper good points of round $1 billion.
These posts have attracted the eye of token holders. Merchants and the crypto group noticed these warnings as proof that one group had acquired a big provide, pumped the worth on skinny liquidity, and was now able to exit. Panic promoting began instantly, which worn out greater than 10,000 merchants in a single day, based on some on-chain trackers.
Is SIREN a Pump and Dump Scheme?
In keeping with the historical past of pump-and-dump initiatives, the mission is giving traditional indicators of a possible pump-and-dump scheme. In a traditional scheme, insiders linked to the mission accumulate a considerable amount of the availability at a low value by utilizing many linked wallets to cover their tracks. This creates hype to drive the worth sky-high, after which unload or let the worth crash whereas retail traders are left holding the tokens. On SIREN, one nameless cluster holds round half of the tokens, and that is the largest crimson flag of the mission. Additionally, there isn’t a clarification on this from the official.
Nonetheless, as of now, there isn’t a massive on-chain promoting from the principle wallets but. Its web site and social media account on X are nonetheless lively. Nonetheless, based on specialists, income on this setup usually come via derivatives somewhat than direct spot dumps. It is very important take precautions in such a scenario.
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