SIREN whale unloads 17M tokens, triggering 50% plunge

ChainCatcher reported that on-chain analyst Yujin spotted a major SIREN holder selling about 17 million SIREN over the past two hours via multiple addresses, a transaction valued at roughly $6.75 million. The sell-off pushed SIREN down more than 50%, sliding from $0.47 to $0.23. The wallet cluster is believed to control at least 94% of SIREN's total supply, or about 680 million tokens. Since February, the holder has carried out four similar sell rounds over the last four months.