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.

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.