Altcoin Whale Dumps: Price Crashes 67%, $91 Million Risk Remains

A giant whale, one of the largest investors in the SIREN (SIREN) token within the cryptocurrency market, caused the price to crash sharply by rapidly liquidating its holdings.

In the crypto world, whale movements always resonate loudly, but sometimes these moves can reach a scale that directly shakes a project’s market value. According to recent data, one of the largest wallets in the SIREN (SIREN) ecosystem has begun dumping its massive amount of tokens onto the market. This sell-off wave caused a virtual cliff to form on the project’s price chart, sparking concern among investors.

According to information shared by the on-chain data tracking platform Lookonchain, the whale in question has generated over 7.5 million dollars in Tether (USDT) from the sales made so far. With the continuation of the sales, the price of SIREN (SIREN) lost 67.4 percent of its value in the last 24 hours, retreating to the 0.156 dollar level. Looking at the transaction history, it is observed that the whale transferred its assets to decentralized exchanges via different wallet addresses and continuously liquidated them there.

Sharp Drop in SIREN Price and Whale Movements

Wallet tracking reveals that the whale still holds 595.7 million SIREN (SIREN) tokens, with a market value of approximately 91.86 million dollars. The continued selling pressure from this investor, who holds a significant portion of the total supply, triggered a sense of panic in the market. Following these major sales, the project’s market capitalization retreated to the 123.7 million dollar level.

The daily trading volume reaching 85.6 million dollars highlights how quickly liquidity is changing hands and how investors are reacting to this sudden decline. The fact that the whale still holds a large amount of assets in its portfolio indicates that the pressure on the price may continue for some time. Specifically, the series of transactions conducted through decentralized exchange routers shows that the sale is being managed professionally.