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Siren ($SIREN) price trades near $3.00 after posting another 100% move in a single day, shrugging off the bearish risks that appeared near the March 22 peak.
The AI-powered agent token on BNB Chain peaked at $4.75 on March 22, corrected sharply as flagged, but then bounced hard enough to retain roughly 640% of the gains accumulated since March 16. The correction that was supposed to deepen instead turned into a bull flag. Exchange flows, spot accumulation, and a key support explain why the bounce held. However, a shift in holder composition adds a new layer of risk that did not exist during the initial run.
Correction Turns Into a Bull Flag as Spot Buyers Step In
BeInCrypto’s previous analysis identified an MFI reading above 82 and a bearish CMF divergence at the March 22 peak. Identical setups preceded corrections on February 7, February 27, and March 15. The token did correct from $4.75, but the selloff stalled much sooner than those prior instances.
The reason shows up in the exchange flow data. On March 22, when the $SIREN price hit $4.75, net inflows surged to approximately $820,000, confirming heavy profit-taking. The long upper wick on that candle is the visual evidence. However, by March 23, exchange net flows had flipped to -$128,000. Tokens were leaving exchanges rather than entering them. That shift from distribution to accumulation within 24 hours is what prevented the correction from deepening into a full reversal.
The 8-hour chart on KuCoin shows the correction has now formed a descending channel that resembles a bull flag. The pole measured over 1,000% from the March 16 base to the $4.75 peak. An 8-hour close above the upper trendline would confirm the flag breakout.
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Adding further support, the $SIREN price remains above the Volume Weighted Average Price (VWAP), a session-based indicator that tracks the average price weighted by volume. The VWAP currently sits at $2.77. Every dip during the correction found buyers near this level. As long as $SIREN holds above $2.77 on an 8-hour close basis, the uptrend remains technically intact.
The spot buying, the flag formation, and the VWAP floor together explain why the bearish warnings did not translate into a sustained breakdown. But who is doing the buying matters as much as the buying itself.
Top Wallets Tighten Their Grip
Over the past 24 hours, the top 100 addresses (mega whales) increased their combined holdings by 95%, now controlling 998.67 million $SIREN. That represents roughly 90% of the total circulating supply.
At the same time, smart money wallets reduced their exposure by 81.81%, dropping to just 11,172 $SIREN. Public figure wallets moved in the opposite direction, adding 6,121% to reach 13,935 $SIREN. The divergence between smart money exiting and retail-aligned wallets entering is a pattern that typically precedes volatility rather than stability.
The distribution score sits at 42, with fresh wallets holding 65.56% of the supply. With 27% of the total supply already burned, the effective float is even smaller. When 90% of that float sits in 100 wallets, those holders can absorb selling pressure and keep the price elevated.
$SIREN Supply Burned">
That same power works in reverse. If they decide to distribute, the thin liquidity outside top wallets could amplify any selloff significantly. And that’s the concentration risk we want to point out.
This does not invalidate the bull flag setup, but it means any breakout trades on borrowed conviction. The Siren price chart determines whether the flag confirms or the concentration risk materializes first.
Siren Price Levels That Decide the Next Leg
The critical breakout level sits at $3.17. An 8-hour close above this zone would confirm the bull flag and open a path toward $3.81, then $4.32, and ultimately $4.84 near the recent peak. If these levels are crossed, even $6.50 comes into the picture.
On the downside, the VWAP at $2.77 is the first line of defense. Below that, $2.15 becomes the next support. A close below $1.60 would invalidate the entire bullish structure built over the past week.
At present, an 8-hour close above $3.17 separates a confirmed bull flag breakout from a deeper pullback toward $2.15. However, that risk could get triggered if the concentrated supply makes a move toward the exchanges.
The post $SIREN Price Gains Another 100%, but a Hidden Concentration Risk Is Building appeared first on BeInCrypto.