SIREN (SIREN) has increased by 16.46% in the last 24 hours, currently priced at $1.8.

Gate News message, March 30, according to Gate market data, as of the time of writing, SIREN (SIREN) is currently trading at $1.80. It is up 16.46% over the past 24 hours. The highest it reached was $1.89, and the lowest it fell to was $1.50. The 24-hour trading volume is $11.5243 million.

The current market cap is approximately $1.313 billion, ranking 61st globally.

SirenAI is an innovative crypto project that blends AI and blockchain. It aims to provide users with intelligent investing, automated trading, and decentralized finance solutions. The project name is inspired by a legendary creature from Greek mythology, representing a crypto experience that is both captivating and highly forward-looking. SirenAI’s core products include SIREN AI Trade (combining advanced AI algorithms and automated trading features to deliver accurate investment insights and optimize market decision-making) and SIREN Dex (an AI-driven decentralized exchange that integrates risk management, intelligent order matching, and cross-chain interoperability). The project is committed to making crypto investing safer and more efficient through AI empowerment and blockchain technology, providing Web3 users with a more convenient trading experience.

Recent important news for SIREN:

1️⃣ Highly concentrated token holder structure increases market risk
A single market maker controls 88.5% of the circulating supply of SIREN tokens (about 644 million tokens, worth about $1.44 billion). Among the top 54 holder addresses, 52 addresses are suspected to be owned by the same controlling party. This extremely concentrated ownership structure has repeatedly become a focal point of market attention during past price fluctuations. From late June to early July last year, it was built at an average price of about $0.045, and the current unrealized profit is about 47x.

2️⃣ Price manipulation through coordination between spot and derivatives
On-chain analysis shows that the market maker generated profits by controlling spot liquidity and conducting counterparty operations in the derivatives market, forming a self-directed, self-performed price mechanism. This operating model directly drove SIREN’s 30x surge over the past one and a half months, from $0.08 to a peak of $2.81.

3️⃣ The controlling party is suspected to be the well-known investment firm DWF Labs
On-chain tracking data shows that the controlling party’s public wallet holds 3 million SIREN tokens. After it transferred SIREN, the next day saw a dense accumulation of 66.5% of the tokens. The fund flow characteristics match DWF Labs’ operating track. In addition, a certain address previously had financial dealings with DWF Labs and profited more than $2 million at $0.07827 by buying at a low price.

This information is not investment advice. Investors should be mindful of market volatility risk.