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SIREN plunges as controller continues token sales and still holds 595.7 million

SIREN plunges as controller continues token sales and still holds 595.7 million

On-chain tracking now indicates 680 million SIREN, or 94% of supply, was split up and sold over two days, driving the token from $1.3 to $0.05 and generating about 64.8 million USDT.

USDT
KCS
GT

Fact Check
The claim is fully corroborated by the primary source. The original Ember (@EmberCN) X post states the SIREN controller sold ~118 million tokens for 18 million USDT causing a 70% drop. BlockBeats reporting adds the precise figures matching the claim: price fell to $0.132, a 73.39% 24-hour decline, with the controlling address cluster holding over 90% of supply. Odaily confirms the same sale figures and the Bitget USDT transfer. The numbers (118M tokens, 18M USDT, ~70%/73.39% drop, $0.132 price) all align across the primary source and multiple independent reports.
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Summary

SIREN remained under heavy pressure as fresh on-chain monitoring indicated that 680 million tokens, equal to 94% of supply, were broken up and sold by a controller over two days. The selling drove the token from $1.3 to $0.05 and generated about 64.8 million USDT, extending earlier reports of large disposals that had already pushed the token down sharply. Roughly 200 million SIREN was sent to Binance wallets, Gate and KuCoin, while the controller address still holds about 39.1 million USDT on-chain. The new figures supersede earlier snapshots that had shown about 360 million tokens sold for 48.7 million USDT and 319 million still held, highlighting how quickly the position was reduced. Earlier tracking by Ember and EmberCN had tied the sell-off to a single dominant entity that at various points was estimated to control between 66.5% and at least 94% of SIREN supply, reinforcing concerns over extreme concentration and repeated volatility.

Terms & Concepts
  • on-chain: Refers to blockchain-recorded wallet activity such as token transfers, balances and sales visible on public ledgers.
  • total supply: The total number of tokens that exist for a project, whether circulating in markets or still held by insiders.
  • controller: A wallet or related entity that directs a large token position and can materially influence market activity through its transfers and sales.