🔍 Market anomaly: The truth behind the vertical surge.
Recently, the trend of $SIREN has kept countless bears awake at night. The price has forcefully pushed from 0.4 to 2.8, with a 24-hour increase exceeding 190%. If you simply think this is just 'retail investors banding together', then you are too naive.
This is not just a normal surge, but a long-planned **'bull hunt'**.
💸 Who is the fuel? The exchange's proprietary market-making team is being countered.
In the food chain of the crypto market, retail investors are often seen as 'small fish and shrimp', but in this game of SIREN, the real massive fuel comes from those proprietary short-selling institutions.
Naked Shorting Trap: Some platforms use internal teams to dump without inventory, attempting to harvest buyers by artificially increasing selling pressure.
Bullish Counterattack: This time, the main force chose to accelerate directly at high positions, breaking through the short margin with a rapid rise.
Liquidation Cycle: When the price rose to 1.8, the total open interest across the network had dropped by 40%. This means the shorts were forced to close positions, and the closing orders (buy orders) became the momentum for pushing up the price.
The Truth of Gambling: The price increase is no longer due to someone buying in, but because the shorts 'have to buy'.
Hardcore Data: Unveiling the Dealer's Bottom Line
To see through the fog, we must dive deep into the underlying data:
1. On-chain Chips: The Terrifying '48 Wallets'
Monitoring shows that $SIREN about 66.5% of the supply is highly concentrated in 48 associated wallets. Most of these chips were acquired in 2025 at an average price of $0.045. Currently, the floating profit has exceeded 40 times. This high level of control means that every bullish candle you see is the result of careful painting by the main force.
2. Derivative Divergence: High OI and Fee Pressure
Open Interest (OI): Derivative open interest has soared to 67 million USDT, with long and short bets reaching a fever pitch.
Funding Rate: The rate has turned to a very high positive value. This means that the bullish main force is consuming huge amounts of capital to maintain the price, and this 'price feeding' behavior is unsustainable.
3. Key Technical Levels
Strong Resistance Zone: $2.8 - $3.0 (weekly level previous high, currently reached).
Lifeline: $1.80. This was the previous liquidation zone; if it breaks down with volume, a rebound will be a signal to exit.
Deep Reflection: The Cost of Being Both Referee and Player
This incident has sounded the alarm for all traders:
Reject Naked Shorting: Shorting against the trend on currencies with severe liquidity shortages or strong control is akin to picking up coins in front of a speeding train.
Pay Attention to Position Changes: When prices soar but open interest plummets, it indicates that fuel (shorts) is about to run out.
Beware of Liquidity Traps: The dealer hunts shorts to create exit liquidity, not to make retail investors rich.
⚠️ Risk Warning
Currently, $SIREN the 'fuel' has been almost exhausted. Once the bulls stop consuming funds to maintain the rate, what follows may be severe liquidity withdrawal. Do not pick up that bloodied chip at the end of the game.