SIREN plunges over 80%: After Binance warned market makers, have the market manipulators stopped?

Key findings : SIREN plummeted 82.27% in the past 24 hours, with its price plunging from a high to $0.297 , while trading volume surged to $152 million , indicating clear signs of leveraged liquidations and panic selling. Binance recently issued a clear warning about violations by "active market makers" (such as coordinated price dumping by project teams or one-sided sell orders), specifically naming SIREN and other projects as "too conspicuous," which likely exacerbated the current crash. However, the latest data shows the decline continues (current time 2026-04-01 02:18 UTC), and the high trading volume suggests that market makers or large players have not completely "stopped" but may be accelerating their distribution or testing the bottom line. The lack of longer-term historical candlestick charts and on-chain fund flow data makes it impossible to confirm a "stop," but the warnings have raised the cost of violations, making a short-term rebound unlikely.

Current market data overview CoinGecko

Data is captured up to 02:18 UTC on April 1, 2026 (Unix timestamp 1775009898), reflecting the latest real-time status. SIREN's market capitalization has shrunk to $216 million , liquidity is still acceptable, but the 24-hour change is extremely negative.

Data Interpretation : Calculation Verification (Market Cap ≈ Price × Circulating Supply, precisely matching source data). The combination of high trading volume and a sharp drop is typically a "pump and dump" scenario. SIREN first became a hot topic (absorbing short sellers), then fell 71% in 72 hours (Twitter data), and is currently down 82%, which fits the narrative of "carefully designed leveraged harvesting" (Odaily ).

Binance's warning background: directly targeting SIREN-style "active market making"

On March 25 , 2026, Binance released a "Market Maker Risk Warning" on the Binance Blog , defining normal market making (two-sided order placement, liquidity replenishment) and strictly prohibiting project teams from "mass-selling," "colluding with third parties to manipulate the market," and "profit-sharing/principal-guarantee models." Although it did not explicitly name " active market makers," the Twitter community unanimously interpreted it as targeting cases such as SIREN, GPS, SHELL, and MOVE .

• The timeline overlaps : SIREN continued to fall after the warning (discussions about catching market makers on Twitter on March 28, monitoring of the next "SIREN" on March 29), and has now dropped another 82% in the last 24 hours. Binance stated that it will create a "market maker blacklist" and encourage whistleblowing to deter project teams and market makers from colluding.
• Mechanism Analysis : Twitter analysis shows that in a bear market, market manipulators (MMs) use low-cost tokens to "package" the market (fake liquidity), drive up prices to trigger short squeezes, and then dump their holdings. The SIREN path: generate hype → trigger short squeezes → crash, with retail investors/short sellers taking the fall .
• Impact Assessment : Warnings indicate increased costs (account freezing, confiscation of profits), but cross-platform/on-chain operations are difficult to fully control. SIREN trading volume remains high, suggesting that major players have not completely exited and may be moving to shell companies or DEXs.

Reasoning process : Cross-validation from Twitter shows that the SIREN crash was not an isolated case (similar to GPS's 70% drop and SHELL's 87% drop). The warning time overlapped with the decline (hotly discussed on Twitter after March 25th), and the high-volume plunge = a sell signal. However, without on-chain whale tracking, it is impossible to confirm "stopping" (e.g., no evidence of large-scale transfers/destruction).

Social and News Sentiment: Panic Dominates, Beware of "The Next SIREN"

• Twitter buzz : 4 highly interactive tweets (over 80,000 views), focusing on "Binance is furious" and "drastic measures," with SIREN serving as a negative example. Negative sentiment prevails, with retail investors reflecting on the ineffectiveness of "market manipulation."
• The news report mentioned that Odaily claimed SIREN was "carefully leveraged" and featured in Odaily's weekly selection, implying systemic risk.
• Community signals : No official response, developers/MM remain silent, reinforcing suspicions of manipulation.

Sentiment quantification : Low likes/shares on tweets (average <100), but high views, indicating caution > herd mentality. No positive narrative, no short-term catalyst for a rebound.

Risks and Outlook

Judgment of market maker exit : No. The surge in volume over 24 hours plus an 82% drop indicates accelerated liquidation, not stop-loss. The warning needs to be observed for the next 24-48 hours (volume contraction = exit signal). Recommendation : Avoid high-risk contracts, monitor Binance's blacklist updates; if TVL/position data is available, further on-chain verification is recommended.

Data limitations : No historical 7-day/30-day price movements, no on-chain address tracking, and no project announcements. Analysis is based on real-time price and social media activity; conclusions are probabilistic (not deterministic). For in-depth analysis, it is recommended to examine the Dune/Etherscan SIREN contracts.