SIREN Controller Dumps 680M Tokens, Price Crashes 96% in 2 Days Before Low-Price Recovery

SIREN-28.81%
According to ChainCatcher, citing on-chain analyst Yin Jin, the SIREN controller converted approximately 680 million SIREN tokens (94% of total supply) into smaller amounts over the past 2 days. The sell-off triggered a 96% price decline from $1.3 to $0.05, generating roughly $64.8 million in USDT. About 200 million tokens flowed to centralized exchanges including Binance, Gate, and KuCoin, while the majority was purchased in small quantities by hundreds of addresses on-chain after the price dropped below $0.1, likely representing the controller's recovery attempt.
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