Author: freeland

Accumulation

Source of funds

On June 1, 2025, the operator prepared nearly 20,000 BNB, and then used a contract bulk forwarding tool to send these BNB to nearly 1,000+ accumulation and manipulation addresses.

https://www.oklink.com/zh-hans/bsc/tx/0x494891fa606c2b5de9dc7c1620b867f703382521bbc193bdaa3e6ed1ea85909a/internal

Accumulation timing

On June 22, 2025, SIREN completed its first round of sharp decline.

Then all the accumulation wallets on the chain began their initial accumulation attempts. The real accumulation began on June 27th, with frequent buying sprees starting. This process continued until July 3rd, almost at the lowest point.

https://www.oklink.com/zh-hans/bsc/address/0x4fafd85f669245856e0d5f7b7264a5c7d23e1eb1/token-transfer

Subsequent prices never fell below the lowest point of July 2, 2025, and almost always fluctuated within a range.

Collection after the accumulation of funds

On February 6, 2026, SIREN Wallet began large-scale aggregation, starting with the collection of tokens from different exchanges.

https://debank.com/profile/0xfe5bcc32063ced8384507d41c334ead5c70fbb56/history?chain=bsc&token=0x997a58129890bbda032231a52ed1ddc845fc18e1_SIREN

Meanwhile, the numerous wallets that had accumulated funds on the blockchain began to consolidate.

Shakeout before price surge

On February 7th, multiple wallets received a large amount of tokens from the consolidated wallet. Upon receiving the tokens, they immediately dumped them elsewhere, engaging in a shakeout.

The selling stopped at 11:59 AM, and then started to rise again after midnight.

There were also many subsequent sell-offs, mainly for shaking out weak hands and accumulating shares; I won't go into too much detail here, as they were all similar tactics.

Brand names are no longer being used.

On March 22nd, the holder leaderboard saw dozens of newly added addresses, with chip holdings ranging from 1% to 2%.

https://bscscan.com/token/0x997a58129890bbda032231a52ed1ddc845fc18e1#balances

https://debank.com/profile/0xf3689a9546c7e6fd466c8cd4a36f71891d72b2a8/history?chain=bsc&token=0x997a58129890bbda032231a52ed1ddc845fc18e1_SIREN

On March 22nd, the trader executed an epic short squeeze, wiping out almost all the OI (online trading volume) accumulated since February within just a few hours—a month and a half's worth of gains were completely wiped out.

After the price broke through, there were almost no opposing positions left, and the trader's 10M+ long position profits could not be realized.

On March 24th, to activate trading, there was no room for upward pressure. Yesterday, I was ranked first on the gainers list, so without upward liquidity, I sought liquidity downwards. A drop of over 60% in one hour successfully propelled me to the top of the losers list. As you can see during the decline, many people started to follow, and the market began to activate.

During the decline, the trader actively reduced leverage by closing out long positions and coordinating with short selling, resulting in a drop of approximately 0.8x.

Because the long positions haven't fully realized their floating profits, the price will consolidate around 1 for a day. Since the traders' prices are around this level, they've accumulated a day's worth of opposing positions. The average price of these short sellers is around 1.14, which is very close to the current price, so there's a lot of room for squeeze (consider how difficult it is to squeeze when there are no opposing positions at 2.x and when the price is only 10 points away from opposing positions at around 1).

What followed was a new round of squeeze from the subsequent continuous damage.

Binance's adjustments during the process

Before March 23, the Gate.io index accounted for 50% of the price. Later, it was adjusted to an on-chain high-liquidity trading pool. Compared to the Gate.io's tens of thousands of dollars affecting only a few points, this is much more difficult to manipulate. However, due to the absolute control of the spot market, adjustments to this are completely ineffective.

In conclusion

I've been keeping an eye on things throughout the process, because I'm also trading and have seen many people post about their profits. But what I want to say is that when a trader has a floating profit of 11 million, if you participate in short selling at that time, and if the short positions keep accumulating, you might become the target of the squeeze if you make a little more profit.

Therefore, it's crucial to manage your position size carefully; otherwise, you might be the one getting squeezed next time. Always consider whose money you're making and who your counterparty is; otherwise, you might become the counterparty yourself.

This is an article written on March 26th. I didn't post it then because Siren offered me arbitrage opportunities. Now that it's more popular, I can post it so we can all discuss and learn together.

MOODENG市值昨晚创下3.2亿美元的新高后，现已回落至2.85亿美元

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