SIREN Supply Risk
SIREN’s latest on-chain movement raises a serious concentration question.
The controlling side of the token reportedly gathered 484.6 million SIREN from hundreds of wallets into just 48 wallets within a few hours. That amount represents 66.5% of total supply, with a current value of around $1.04 billion.
The background makes it even more important. These holdings were reportedly accumulated by the end of June 2025 at an average price near $0.045, with total spending of about $21.8 million. Since then, SIREN has moved from $0.08 to $2.1 in roughly one and a half months, a gain of around 26x, while the floating profit on those holdings is said to be about 47x.
This is the part the market cannot ignore:
when such a large share of supply sits under one controlling side after a sharp price expansion, the issue is no longer just upside performance. It becomes a question of distribution risk, control risk, and how much of the market is actually liquid.