SIREN collapsed more than 70% in a matter of hours on Saturday after the wallet address widely identified as the token’s market maker offloaded a massive position into an unsuspecting market.
The token fell from $0.47 to $0.23 in the initial wave of selling before continuing its slide to $0.13, erasing more than half its value in a trading window so compressed it left retail holders little room to react.
On-chain investigator EmberCN was among the first to surface the data, and what the numbers show is not a market correction, it is a controlled liquidation by someone who [was never playing the same game as everyone else.
[SIREN 控盘者] 在过去 2 小时里密集通过多个地址在链上抛售了约 1700 万枚 siren-2:native (675 万)，致使 SIREN 暴跌了 50%+ ($0.47→$0.23)。
SIREN 这个币，庄家是绝对控盘的，他们控制着至少 94% 总量 (6.8 亿枚) 的币。
所以这 K… https://t.co/fSrGTLsIS7 pic.twitter.com/gpyrdDX7jx— 余烬 (@EmberCN) June 13, 2026
This is not a one-off event. It is the fourth time this year.
One Wallet Controls 94% of SIREN Entire Supply
Before the price action even makes sense, the supply picture has to be understood, because it explains everything.
On-chain data confirms that the entity behind this dump holds approximately 680 million SIREN tokens, representing 94% of the token’s total circulating supply. That figure is not a rounding error or a misread.
It means that for every 100 SIREN tokens in existence, 94 of them belong to one address. The remaining 6% is what retail traders and secondary market participants have been trading against, a thin float propped up by whatever price the controlling wallet decides to set.
A token where one entity controls 94% of supply is not a free market. It is a controlled game with a predetermined outcome. Price discovery, in any meaningful sense, does not exist when a single actor can unilaterally decide to dump $6.75 million worth of tokens into the market inside a two-hour window.
EmberCN Data Reveals the Full Scope of the Sell-Off
The on-chain trail is damning. According to EmberCN’s analysis, the SIREN manipulator has cumulatively sold approximately 118 million SIREN tokens for 18 million USDT, with the latest wave alone accounting for the $6.75 million dump that triggered Saturday’s collapse.
更新：
从上午 10 点以来，[SIREN 控盘者] 累计抛售了约 1.18 亿枚 SIREN 换成 1800 万 USDT，让 SIREN 下跌了 70%。
然后在过去 2 个小时里，他们把其中约 1500 万 USDT 转进了 Bitget。 pic.twitter.com/TxnEY7Wu2M— 余烬 (@EmberCN) June 13, 2026
Within two hours of executing the sell-off, the wallet transferred roughly 15 million USDT of those proceeds directly into Bitget, a move that signals this was not panic selling or a portfolio rebalancing. It was an extraction.
The speed of the transfer matters. Moving $15 million into a centralized exchange that quickly suggests the entity wanted liquidity locked in before market conditions shifted further. It is the kind of operational precision that does not happen by accident.
EmberCN’s tracking of this wallet stretches back to February, and the pattern across all four cycles is consistent: accumulate quietly at depressed prices, allow the token to pump through coordinated activity or narrative seeding, and then dump into the retail-driven volume at the peak.
SIREN Price Outlook
At $0.13, SIREN sits roughly 72% below its recent peak. Whether that level holds or gives way further depends almost entirely on what the controlling wallet does next.
If the pattern holds true to form, a period of quiet re-accumulation follows a dump of this scale and that re-accumulation tends to be invisible to most retail participants until the next pump is already underway. The timing of the next cycle is impossible to call from technical analysis alone, but the on-chain signal will eventually show up in wallet activity data for anyone tracking it closely enough.
For now, the situation is straightforward: a single entity dumped $6.75 million, crashed the token by more than 70%, moved $15 million into Bitget, and has done this three times before. The market structure that allowed it to happen has not changed. Until supply concentration comes down from 94%, every rally in SIREN is a potential exit and only one party knows exactly when that exit is coming.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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