SIREN Drops Over 50% After Controller Sells About 17 Million Tokens On-Chain

SIREN fell more than 50% after a controller sold about 17 million siren-2:native tokens on-chain through multiple addresses over the past 2 hours. According to Foresight News, monitoring data from Yu Jin said the sell-off contributed to SIREN sliding from $0.47 to $0.23. The report said SIREN is heavily controlled by a single operator, who is estimated to hold at least 94% of the total supply of 680 million tokens.