Siren (SIREN) plunged roughly 20% in the past 24 hours as capital flowed out and a large wallet activity raised fresh sell-pressure concerns. The memecoin’s price has been volatile lately — alternating sharp gains with steep pullbacks — and yesterday’s drop pulled it significantly away from recent highs.
On-chain intelligence provider Arkham Intelligence flagged a large move: a wallet shifted 22.852 million SIREN (just over $8 million). About 1 million SIREN (~$373K) was sent to Gate Exchange, a classic sign traders use to test liquidity before selling in tranches. The remaining ~21.852 million SIREN (~$7.85M) were shown as being down roughly 10% on the day, which could force further selling if the holder looks to realize losses or rebalance.
Price technicals add to the risk picture. SIREN has already retraced more than 50% from its peak near $0.609 down to roughly $0.300 at the low. At press time the token was trading around $0.347 — just above an ascending support line near $0.30 that the price has bounced off more than six times, marking it as a key short-term level. If that support holds, a rebound could target the denser liquidity band at about $0.55. If it breaks, losses are likely to accelerate.
On-chain flow indicators point to selling dominance: Chaikin Money Flow (CMF) sits near -0.24, signaling net outflows of capital, while Cumulative Volume Delta (CVD) shows sell volume leading the session — about 4.8 million SIREN were recorded as being sold at the time of reporting. CoinGlass liquidity maps place the tightest cluster just below $0.30 (where stops and market orders can be swept), with more substantial liquidity waiting around $0.55 above the current price.
Bottom line: the combination of a large wallet movement toward an exchange, negative flow indicators, and concentrated liquidity near key levels makes $0.30 the immediate focal point. A hold there could spark a recovery toward $0.55; a breakdown would likely deepen the drawdown. As always, on-chain signals and order-book dynamics provide clues but not certainties.
Disclaimer: This content is informational and not investment advice. Cryptocurrency trading carries high risk; do your own research before making any decisions.
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