BlockBeats News, April 1st. Previously exposed whale-controlled project SIREN experienced a sharp drop last night. At the time of writing, SIREN was trading at $0.4084, representing a 75.8% decrease in the past 24 hours.

The token has recently witnessed several pump and dump cycles, with the most recent occurring on March 28th when the token surged from around $0.8 to $1.66.

According to previous findings, it is suspected that a single whale may have control over approximately 88.5% of the circulating supply of the SIREN token (around 644 million tokens, valued at around $1.44 billion). Some opinions have linked the related address to the liquidity provider DWF Labs, whose public wallet holds about 3 million SIREN tokens. Following a recent transfer, large-scale consolidation activities occurred shortly thereafter, but this connection has not yet received official confirmation.

BlockBeats reminds users that there is extremely high risk associated with such tokens, and users should invest with caution.