Siren has suffered another brutal collapse, dropping around 90% in the past five days and wiping out hundreds of millions of dollars in value. Crypto analyst Crypto Patel noted that roughly $
Siren has suffered another brutal collapse, dropping around 90% in the past five days and wiping out hundreds of millions of dollars in value. Crypto analyst Crypto Patel noted that roughly $760 million in market capitalization disappeared during the latest sell-off, with $2.4 million in leveraged long positions liquidated after a major holder sold $7.5 million worth of SIREN tokens.
The concern for traders is that the story may not be over. The same wallet still owns 595 million SIREN, equal to about 30% of the token’s circulating supply, leaving plenty of room for more selling pressure.
The timing makes the move even more dramatic. It is important to note that less than one week ago, the value of SIREN stock had risen by over 200% within just ten days, bringing a gain of over $600 million in its market capitalization.
This isn’t new territory for SIREN holders. The token has already experienced multiple major collapses in 2026, including declines of 87% in February, 97% between late March and early April, 88% in April, 67% in May, and now another 90% drop in June. For many traders, these repeated swings have become the defining feature of the project.
Shit Show in Crypto Continues: $SIREN Crashed Another 90% in Just the Last 5 days.
— Crypto Patel (@CryptoPatel) June 13, 2026$760M wiped from market cap
We had a look at the daily SIREN chart, and the numbers paint a clear picture. The token opened near $0.47, reached an intraday high of $0.4761, then fell to $0.1124 before ending the session at $0.1325.
That works out to a 72.02% loss in a single day. Trading activity exploded alongside the decline. Volume reached 1.67 billion tokens, representing well over $200 million worth of transactions at market prices. The bigger trend looks even worse. The SIREN price has fallen from previous levels near $8.50 through $6, $4.50, $3, $2, $1, $0.65, $0.45, and now trades close to $0.13. The next support levels visible on the chart are around $0.10, $0.075, $0.055, and $0.0235.
On-chain activity helps explain why the pressure hasn’t eased. Transaction records show wallets labeled “SIREN Whale” repeatedly sending tokens to OKX decentralized exchange routers and receiving USDT in return.
Most of these swaps range between $2,000 and $5,500, a method often used to spread out large sales and reduce slippage instead of dumping everything at once. Even though each transaction looks small, hundreds of similar trades can create constant selling pressure.
Source: X/@cryptopatelPortfolio data shows the whale controls approximately $98.3 million in assets, with $91.86 million invested in SIREN. That means 93.5% of the portfolio remains tied to the token.
The wallet also holds around $6.4 million in USDT, alongside much smaller balances of WBNB, USDC, BNB, ETH, and BTCB. The SIREN holdings alone lost 67.79% of their value in 24 hours, dropping from an estimated $285 million to $91.86 million.
For the SIREN price, that’s the number traders are watching most closely. As long as one wallet still controls 595 million tokens and continues converting them into USDT, every rally faces the risk of running into fresh supply.
The whale’s remaining position is still enormous. Even after the latest round of selling, the wallet holds about $91.86 million worth of SIREN, accounting for 93.5% of its total $98.3 million portfolio.
If those tokens keep flowing into decentralized exchange routers in smaller batches, the market will need to soak up millions of dollars in fresh supply, which could keep the SIREN price under pressure.
A recovery would depend on whether selling pressure stops and new buyers absorb supply. Without that balance, price recovery is typically difficult after repeated large liquidations.
How much did the SIREN price fall in the latest moveSIREN dropped around 90% in five days, with a single daily move showing a 72.02% decline from open to close, based on trading data from the latest chart breakdown.
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The post Here’s Why the Siren (SIREN) Price Keeps Crashing appeared first on CaptainAltcoin.
