Let’s break down the recap of $SIREN
I won’t repeat what the news reports have said; the whales have over 95% control of the market, allowing them to pump and dump at will. Let’s talk about the on-chain aspect.
The whales control at least 50 on-chain addresses, which can be divided into 6 clusters. There are over 40 exchange accounts, including 7 centralized exchanges (CEX) and one decentralized exchange (DEX), with 'G' being the main battleground for offloading.
The 6 cluster addresses have different roles, including market support and accumulation, DEX volume manipulation, main force offloading, and withdrawal transit, among others. The lesson or insight here is that the roles of the whales across different clusters can change. If you only analyze the trends based on one cluster's movements, you might get blindsided and misled.
Let’s illustrate with one cluster. Combined with the price movements of Siren, we can do a simple analysis.
After the sell-off on May 24th for Siren, this cluster began to accumulate small amounts gradually, then started making larger on-chain purchases of Siren on June 5th. By June 7th, as Siren's price hit a new high, the cluster's Siren balance also peaked, and as Siren began to dump, this cluster sold off its balance from June 7th to June 9th.
At this point, it seems like a very obvious wash trading cluster, but then I noticed that this cluster started buying Siren in large quantities again on June 10th. If you had jumped in at that point, you would have faced today’s guillotine, as shown in the chart where another cluster offloaded about 100 million~~~
So even with on-chain tracking, it’s crucial to reference multiple cluster activities and not get fooled by fake moves.
Another takeaway is to leverage AI; it can help you discover more related addresses and alert you, aiding in assessing the whales' actions.
I won’t repeat what the news reports have said; the whales have over 95% control of the market, allowing them to pump and dump at will. Let’s talk about the on-chain aspect.
The whales control at least 50 on-chain addresses, which can be divided into 6 clusters. There are over 40 exchange accounts, including 7 centralized exchanges (CEX) and one decentralized exchange (DEX), with 'G' being the main battleground for offloading.
The 6 cluster addresses have different roles, including market support and accumulation, DEX volume manipulation, main force offloading, and withdrawal transit, among others. The lesson or insight here is that the roles of the whales across different clusters can change. If you only analyze the trends based on one cluster's movements, you might get blindsided and misled.
Let’s illustrate with one cluster. Combined with the price movements of Siren, we can do a simple analysis.
After the sell-off on May 24th for Siren, this cluster began to accumulate small amounts gradually, then started making larger on-chain purchases of Siren on June 5th. By June 7th, as Siren's price hit a new high, the cluster's Siren balance also peaked, and as Siren began to dump, this cluster sold off its balance from June 7th to June 9th.
At this point, it seems like a very obvious wash trading cluster, but then I noticed that this cluster started buying Siren in large quantities again on June 10th. If you had jumped in at that point, you would have faced today’s guillotine, as shown in the chart where another cluster offloaded about 100 million~~~
So even with on-chain tracking, it’s crucial to reference multiple cluster activities and not get fooled by fake moves.
Another takeaway is to leverage AI; it can help you discover more related addresses and alert you, aiding in assessing the whales' actions.