SIREN token drops 70% after whale sells 17 million tokens

The cryptocurrency SIREN, a token on the BNB Chain, suffered a catastrophic price crash on Saturday, June 13, 2026, losing approximately 70 to 75 percent of its value in a 24-hour period. The collapse, which drove the token's price from highs near $0.52 to lows around $0.126, was triggered by aggressive selling from a single large holder controlling the vast majority of the token's supply.

On-chain data indicates the entity, described by analysts as controlling between 82 and 94 percent of SIREN's circulating supply, sold roughly 17 million tokens over a two-hour period beginning on Friday. This sell-off, valued at approximately $6.75 million, initiated a flash crash that saw the price halve from $0.47 to $0.23 before losses deepened throughout Saturday. The large holder has reportedly received over $7.5 million from SIREN sales to date and continues to hold a position of about 595.7 million tokens, worth around $92 million at recent prices, creating ongoing risk of further selling pressure.

The concentrated dump cascaded through the market, triggering over $2.4 million in long liquidations across exchanges as leveraged bullish positions were forcibly closed. Data showed long...