Gate News, March 24 — The AI-themed token SIREN on the BNB Chain has recently surged significantly in price, with an increase of over 800% in the past month and a market capitalization once surpassing $1.5 billion. This week, driven by short covering and retail capital inflows, SIREN hit a new all-time high, with market sentiment continuing to heat up.
However, several on-chain analysts have questioned the sustainability of this rally. Bubblemaps data shows that a cluster of addresses controlled by multiple related wallets holds approximately 47% to 50% of the total token supply. These addresses accumulate tokens through dispersed holdings and centralized management, redistributing tokens across different wallets, exhibiting clear signs of coordinated behavior.
Meanwhile, a nearly $1 billion transfer shifted almost half of the supply from structured holding contracts to active wallets, significantly increasing large holders’ direct control over circulating tokens. This change causes the actual circulating supply to be lower than surface data suggests, further amplifying price volatility.
Under this supply structure, even limited buying pressure can rapidly push prices higher. Additionally, short liquidations in the leveraged market can create “passive buying,” reinforcing the upward trend. On-chain investigator ZachXBT also pointed out that some related wallets are connected to addresses involved in DWF Labs projects, which previously drew attention due to market manipulation controversies.
Analysts believe that this rally is more likely driven by concentrated holdings and liquidity contraction rather than genuine demand expansion. If core holders begin to reduce their positions, the current upward structure could quickly reverse, posing a risk of sharp retracement.
Although short-term momentum remains, the high concentration and low circulating supply make SIREN’s price movement highly sensitive to capital behavior, and the market should remain alert to potential chain reactions of amplified volatility.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Whale Withdraws 8.7% of Memecoin Supply from Major CEX; Price Doubles in 24 Hours
A major withdrawal of memecoin tokens from a centralized exchange led to a significant price surge, with the value of the withdrawn assets nearly doubling within 24 hours. This mirrors a previous withdrawal by a whale that saw its assets increase fivefold.
GateNews1h ago
TradFi Rise Alert: BE (Bloom Energy Corp) Rises Over 22%
Gate News: According to the latest Gate TradFi data, BE (Bloom Energy Corp) has surged by 22% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews2h ago
BTC 跌破 74000 USDT
Gate News bot 消息，Gate 行情显示，BTC 跌破 74000 USDT，现价 73999.9 USDT。
CryptoRadar3h ago
TradFi Rise Alert: CRDO (Credo Technology Group Holding Ltd) Rises Over 20%
Gate News: According to the latest Gate TradFi data, CRDO (Credo Technology Group Holding Ltd) has surged by 20% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews4h ago
ETH 15-minute drop of 0.72%: Large addresses transferring to and net outflows of funds from the main players triggered a sell-pressure resonance
2026-04-14 16:45 to 2026-04-14 17:00 (UTC), within the 15-minute window ETH’s return recorded -0.72%. The price range fluctuated from 2329.63 to 2351.42 USDT, with a swing of 0.93%. During this period, market capital outflows accelerated markedly, volatility intensified, market sentiment turned cautious, and attention rose rapidly.
The main driver of this anomaly is that on-chain large addresses (whales) centralized and transferred ETH to exchanges, releasing a large sell signal. The net outflow of funds from the main capital totaled as much as -61.80 million USD,
GateNews4h ago
BTC drops 0.75% in 15 minutes: quick pullback triggered by short-term position trimming and capital outflows
2026-04-14 16:45 to 17:00 (UTC), the BTC market saw a clear ups-and-downs move, with a 15-minute return of -0.75%. The price quickly dropped from the 74529.4 to 75233.4 USDT range, with an amplitude of 0.94%. During this period, trading volume increased by about 12% compared with the average of the prior hour; market attention rose, and volatility significantly intensified.
The main drivers of this sudden move were short-term holders collectively cutting positions and a large outflow of exchange funds. From 16:45 to 17:00, the net outflow of BTC was approximately 4,800 BTC
GateNews4h ago
