$SIREN is down over 32% today, and on-chain activity tells an interesting story.

One address (0x7780846d2432116Ac53B53B14c8B7678Eaa89F9f) transferred 8.16M SIREN into a newly created wallet (0xff335CDB6FF50EbE9191Fb8D792911Af856581D7). Creating a fresh wallet just to move tokens usually isn’t random — it suggests deliberate positioning.

Not long after, that new wallet sent 1M SIREN to Gate, valued around $372.9K.

Our interpretation: this looks like a staged deposit. A smaller amount is sent first to test liquidity and market reaction before deciding whether to send more — a tactic commonly used when preparing for larger moves.

SIRENUSDT

Διην.

0.41291

-12.61%