Overview
- SIREN, which hit a record on March 22, now trades near $1 after a drop of more than 70%, with a wild 24-hour range reported between roughly $0.80 and $2.56.
- Earlier gains followed an AI-agent pivot on BNB Chain and new perpetual futures pairs on major exchanges such as Bybit, MEXC, and Binance Futures that set off short squeezes and cascading liquidations.
- Technical gauges flagged excess heat during the run, including an RSI near 92 and CoinGlass data showing heavy long leverage with clear liquidation levels, a setup that left bulls exposed once momentum broke.
- On-chain sleuths reported extreme supply concentration in linked wallets, with estimates from a cluster near 50% to control around 88.5%, and some speculation tied parts of the activity to DWF Labs that public reporting has not confirmed.
- Post-selloff metrics now skew bearish, with AMBCrypto citing short dominance on Binance and negative funding rates, signaling pressure that could deepen losses for late buyers if spot demand stays thin.