Is SIREN a Textbook Supply Squeeze? 340% Rally Raises Questions

• A single wallet cluster controls up to 88% of SIREN’s circulating supply.
• Leveraged trading amplified both the rally and the sharp decline.
• On-chain data shows limited new user participation during the surge.

SIREN’s sharp rally and sudden crash have raised concerns about a possible supply squeeze. The token surged more than 340% in 30 days before losing over 60% in the past 24 hours. On-chain data points to concentrated ownership and leveraged trading as key drivers.

SIREN Rally Driven by Leverage and Narrative

SIREN became one of the most active tokens on BNB Chain after shifting toward an AI-driven narrative. The project, which promotes an “AI agent” for decentralized finance, saw its price climb from under $0.63 on March 16 to highs above $2.81, a 1300% surge in the period. 

This move pushed its market capitalization towards $3 billion at peak lev…

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