Siren plummets over 55% in 24 hours amid on-chain sell-off

Siren (SIREN), a token that faced allegations of price manipulation several months ago, has plummeted more than 55% over the past 24 hours amid continued on-chain selling pressure. On-chain analyst EmberCN noted that addresses believed to belong to the Siren team recently sold 360 million SIREN for over 48.7 million USDT. The analyst added that these wallets still hold over 319 million SIREN and warned that another move involving price manipulation could be imminent, as realizing such large profits through on-chain activity is typically difficult for a token of this nature. According to CoinMarketCap, SIREN is currently trading at $0.05262, down 56.44% over the last 24 hours.