SIREN plummeted 50% in 24 hours: leverage liquidation, emotional speculation, and capital rotation driving the decline.

Gate News reports that SIREN experienced extreme volatility within just 24 hours, with the price rapidly dropping from approximately $1.67 to $1.04, a maximum decline of nearly 50%. This market movement was not triggered by a single negative factor, but rather driven by leveraged liquidations, emotional trading, and short-term capital rotations, making the token a typical target for high-frequency speculation.

On-chain and derivatives data indicate that this round of market action originated from an extreme short liquidation on March 22. On that day, the scale of short liquidations reached up to $31.44 million, far exceeding historical records, directly pushing the price from around $1 to above $2.50. Subsequently, both long and short positions switched back and forth amid high volatility, causing the price to reverse rapidly, forming a typical cycle of "rally—distribution—liquidation."

The current market has not yet deviated from the liquidation-dominated logic. Data shows that there is approximately $5.23 million in short liquidation pressure around the $2.11 mark; if the price reaches this area, it may trigger another chain reaction of short squeezes, pushing the market towards the $2.50 level. However, the question remains whether the market still has sufficient buying momentum to support this process after the previous extreme fluctuations, which carries uncertainty.

The flow of funds also reveals clear short-term characteristics. Recently, the balance of SIREN on exchanges has decreased from 71.26 million to 69 million tokens, indicating that about 2 million tokens were transferred out and absorbed during the price decline. Such behavior typically corresponds to trading strategies of "buying low and selling high" rather than long-term holding, further reinforcing the price volatility attributes.

Structurally, $1.00 and $2.00 have become the current core range. If it breaks below $1.00, the next support may point to $0.46; if it breaks above $2.00, the $2.11 liquidation zone will become the short-term focus. In the absence of external trend catalysts, SIREN is likely to maintain high volatility and oscillation within this range, with the liquidation mechanism continuing to dominate the price rhythm.