\n<\/p>\n
\n\t\t\t\t\t\t\t\t\t\u201cThat\u2019s a pure money laundering for someone or playing against their own users while having all the insider information,\u201d one analyst claimed.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
SIREN, the meme coin that stunned the crypto community after a staggering price increase in March, has collapsed by double digits over the past 24 hours.<\/p>\n
Some crypto commentators are not surprised by the meltdown since they previously warned that the project could be a scam.<\/p>\n
It was just several days ago when SIREN\u2019s valuation exploded to an all-time high of around $3.60, while its market cap surpassed $2 billion. The asset climbed the crypto ladder and entered the elite top 50 club after flipping<\/a> Pi Network\u2019s PI.<\/p>\n As many have alerted, though, its bull run was unsustainable, and SIREN nosedived by a whopping 85% over the past 24 hours, whereas its capitalization fell to a mere $200 million.<\/p>\n X user Honey, who has been among the most vocal critics of the meme coin, claimed<\/a> the asset\u2019s price has been \u201ccompletely nuked,\u201d suggesting that Binance may have played a role in the crash. The analyst assumed that the world\u2019s largest cryptocurrency exchange \u201cwill keep listing and delisting these traps farming fees off liquidation cascades.\u201d<\/p>\n Honey is not the only one pointing out Binance as the main culprit. X user UMER ( THE BULL ) argued<\/a> that the company has made millions of dollars by manipulating the SIREN chart.<\/p>\n The token is an AI-driven meme coin based on the BNB Chain and is closely associated with Binance, as it launched on Binance Alpha (the company\u2019s platform for early-stage Web3 projects). Several analysts have explained how such assets may have been manipulated by the exchange.<\/p>\n According to X user Jack TZ, the course of action includes seven steps. First, all of these tokens (such as SIREN) are deployed on BNB Chain and are available as perpetual contracts. Their market caps pump substantially to billions of dollars, while liquidity remains low, \u201cso that no one can buy and take profits.\u201d<\/p>\n The analyst also thinks<\/a> that Binance makes millions from perpetual long liquidations in the process and then dumps at a specific point while shorting and liquidating large sums again.<\/p>\n \u201cRepeat the process with other tokens on the same BNB chain only. That\u2019s a pure money laundering for someone or playing against their own users while having all the insider information,\u201d they added.<\/p>\n<\/blockquote>\n The analytics platform Bubblemaps and the popular blockchain investigator ZachXBT have also expressed their concerns regarding SIREN. A week ago, the former sounded the alarm<\/a> that a single entity controls roughly half of the meme coin\u2019s supply, warning that \u201cthis only ends one way,\u201d while the latter echoed a similar warning.<\/p>\n A quick Google search shows that SIREN is a token inspired by the Greek mythological Sirens. However, its fundamentals and use cases remain dubious (to say the least), while information about the project\u2019s team and goals is lacking.<\/p>\n This is usually a red flag that traders and investors should watch for. They must also be aware that meme coins of that type are primarily driven by hype and notorious for their enhanced volatility, meaning a collapse, as the recent one, can happen at any time.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\nYou may also like:<\/h3>\n
\n
The Other Red Flags<\/h2>\n
\nBinance Free $600 (CryptoPotato Exclusive): Use this link<\/a> to register a new account and receive $600 exclusive welcome offer on Binance<\/b> (full details<\/a>).<\/p>\n
![<\/a>SIREN Price, Source: CoinGecko<\/figcaption><\/figure>\nX user Honey, who has been among the most vocal critics of the meme coin, claimed<\/a> the asset\u2019s price has been \u201ccompletely nuked,\u201d suggesting that Binance may have played a role in the crash. The analyst assumed that the world\u2019s largest cryptocurrency exchange \u201cwill keep listing and delisting these traps farming fees off liquidation cascades.\u201d<\/p>\nHoney is not the only one pointing out Binance as the main culprit. X user UMER ( THE BULL ) argued<\/a> that the company has made millions of dollars by manipulating the SIREN chart.<\/p>\nThe token is an AI-driven meme coin based on the BNB Chain and is closely associated with Binance, as it launched on Binance Alpha (the company\u2019s platform for early-stage Web3 projects). Several analysts have explained how such assets may have been manipulated by the exchange.<\/p>\nYou may also like:<\/h3>\nAccording to X user Jack TZ, the course of action includes seven steps. First, all of these tokens (such as SIREN) are deployed on BNB Chain and are available as perpetual contracts. Their market caps pump substantially to billions of dollars, while liquidity remains low, \u201cso that no one can buy and take profits.\u201d<\/p>\nThe analyst also thinks<\/a> that Binance makes millions from perpetual long liquidations in the process and then dumps at a specific point while shorting and liquidating large sums again.<\/p>\n\n\u201cRepeat the process with other tokens on the same BNB chain only. That\u2019s a pure money laundering for someone or playing against their own users while having all the insider information,\u201d they added.<\/p>\n<\/blockquote>\nThe Other Red Flags<\/h2>\nThe analytics platform Bubblemaps and the popular blockchain investigator ZachXBT have also expressed their concerns regarding SIREN. A week ago, the former sounded the alarm<\/a> that a single entity controls roughly half of the meme coin\u2019s supply, warning that \u201cthis only ends one way,\u201d while the latter echoed a similar warning.<\/p>\nA quick Google search shows that SIREN is a token inspired by the Greek mythological Sirens. However, its fundamentals and use cases remain dubious (to say the least), while information about the project\u2019s team and goals is lacking.<\/p>\nThis is usually a red flag that traders and investors should watch for. They must also be aware that meme coins of that type are primarily driven by hype and notorious for their enhanced volatility, meaning a collapse, as the recent one, can happen at any time.<\/p>\n\nSPECIAL OFFER (Exclusive)<\/span><\/center>\nBinance Free $600 (CryptoPotato Exclusive): Use this link<\/a> to register a new account and receive $600 exclusive welcome offer on Binance<\/b> (full details<\/a>).<\/p>\nLIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n<\/p><\/div>\n\nSource link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":" \u201cThat\u2019s a pure money laundering for someone or playing against their own users while having all the…\n","protected":false},"author":2,"featured_media":42664,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-42663","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/42663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42663"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/42663\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/42664"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/04\/SIREN-Price.png\"){kind=link}