「SIREN Whale」 Sells 94% of Tokens in Two Days, Price Plunges by 96%

BlockBeats News, June 15th, according to Ember Sword, in just 2 days, 680 million SIREN tokens (94% of the total supply) have now been practically completely broken down by the "SIREN Whale".

The 680 million SIREN tokens sold off resulted in a 96% drop in SIREN's price ($1.3→$0.05), exchanging for approximately $64.8 million USDT. Of this amount, around 200 million tokens flowed into Binance Wallet, Gate, KuCoin, and other CEXs.

The majority of the remaining tokens were bought on-chain by hundreds of addresses after the price was smashed below $0.1, with an average of tens of thousands of SIREN tokens bought per address (worth varying from thousands to tens of thousands of dollars). Ember Sword's analysis pointed out that the massive number of small transactions from addresses is likely still the [SIREN Whale]'s doing, buying back chips after the sell-off and conveniently breaking down addresses to cover their tracks. The possible goals are: chip recovery at a low point; breaking down addresses to increase tracking difficulty; preparing for a possible next manipulation.