SIREN, a BNB Chain-based AI-agent meme token, lost more than 95% of its value between June 13 and June 15, 2025, after a single whale unloaded roughly 670 million tokens. The price slid from about $1.30 to near $0.05 in roughly 48 hours, according to on-chain analytics firm Lookonchain, which tracked approximately $64.8 million USDT in proceeds from the selloff.
The whale behind the slide
Before the liquidation, the whale controlled between 92% and 94% of SIREN's circulating supply. That concentration meant one address could move the entire market. Lookonchain tracked $25.7 million USDT moving to centralized exchanges including Binance, Gate, and KuCoin. Another $39.1 million USDT from the sale was split across hundreds of smaller on-chain addresses, making it harder to trace.
What the crash reveals
The event is a warning about meme coin liquidity and supply concentration — not a failure of AI infrastructure, despite the token's AI-agent branding. When a single holder owns nearly the entire float, a selloff wipes out retail holders who bought in at higher prices. SIREN's drop from $1.30 to five cents in two days left latecomers holding near-worthless bags.
On-chain data shows the whale likely used multiple wallets to distribute the USDT, but the core problem was structural. No decentralized exchange or automated market maker can absorb a 670-million-token dump when the seller controls nine out of every ten coins in circulation.
Still trading — but barely
As of June 16, SIREN still trades at around $0.05, with thin order books. The token hasn't been delisted from any major exchange, but volume has collapsed. Retail traders who bought during the run-up now face a coin that trades for less than a cup of coffee.
The question no one can answer yet is whether the whale completely exited or still holds a smaller position. If the remaining supply is dispersed among hundreds of addresses, the token could stabilize at a low level. But the concentration that caused the crash hasn't disappeared — it has just moved.
