PANews reported on June 15th that, according to on-chain analyst Yu Jin, within two days, the SIREN controllers have essentially broken down all 680 million SIREN tokens (94% of the total supply) into smaller units. This sell-off caused the price to drop by 96% (from $1.30 to $0.05), yielding approximately 64.8 million USDT. About 200 million of these SIREN tokens flowed into centralized exchanges such as Binance, Gate, and KuCoin, with most being purchased in small amounts on-chain by hundreds of addresses after the price fell below $0.10. These small purchases are likely still the work of the controllers, aimed at accumulating tokens at low prices, increasing the difficulty of tracking, and preparing for the next manipulation.
After the SIREN controller dumped the tokens, they bought back the remaining tokens at a low price, resulting in a 96% price drop due to the turnover of 680 million tokens.
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Author: PA一线
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