[SIREN Whales] Over the past 2 hours, the whales have been aggressively dumping around 17 million SIREN (6.75 million) across multiple addresses on-chain, causing SIREN to plummet over 50% ($0.47→$0.23).
This coin, SIREN, is definitely under the control of the big players, who hold at least 94% of the total supply (680 million coins).
So this candlestick action is just wild 😂 every time they shake out the shorts, they load up on the longs: pump it up by dozens of times, then smash it back down. Accumulate those chips and then rinse and repeat for the next round...
From February until now, it’s been 4 rounds of harvesting in 4 months.