Watch Out: An Altcoin’s Value More Than Doubled Today, But There May Be a Serious Risk

One of the most notable recent surges in the cryptocurrency market has been seen in the SIREN token. According to data, SIREN gained over 152% in value in the last 24 hours, surpassing the $2.4 level, and its total market capitalization reached approximately $1.72 billion.

Data indicates that a highly concentrated supply structure lies behind this sharp increase. According to the on-chain analytics platform MLM monitoring, a single address cluster transferred 484.6 million SIREN through Hedgey Finance in the last 24 hours. This amount, worth approximately $1 billion, corresponds to 48.5% of the total supply. The unrealized profit from this address cluster has already exceeded $950 million.

The rise in SIREN is not limited to the short term. According to data, the token has increased approximately 26 times in the last month and a half, rising from $0.08 to $2.1. This performance has drawn attention in the market to the supply controls on SIREN and the potential volatility risks.

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On the other hand, according to data shared by EmberCN, control over SIREN has become even more centralized following the price increase. 484.6 million SIREN, representing 66.5% of the token supply, have been consolidated from hundreds of different wallets into just 48 wallets. The total value of these assets is approximately $1.04 billion.

Analysis reveals that these addresses collected these tokens by the end of June 2025, spending a total of $21.8 million at an average cost of approximately $0.045. Considering current price levels, this investment is valued at over $1 billion, yielding an estimated return of approximately 47 times.

*This is not investment advice.

Continue Reading: Watch Out: An Altcoin’s Value More Than Doubled Today, But There May Be a Serious Risk