On-chain data analysis is raising concerns over the ownership structure of the SIREN token, with a single coordinated entity reportedly controlling up to 88.5% of its total supply valued at approximately $1.44 billion.
The findings suggest that while earlier estimates pointed to 66.5% concentration, deeper wallet analysis reveals a significantly higher level of control when additional linked addresses are considered. The development comes amid a sharp price surge that saw the token rise nearly 30x within six weeks.
好吧，$SIREN 庄家控盘的代币并不止 66.5%，而是 88.5%😰6.44 亿枚 SIREN，价值 $14.4 亿。
要是再加上他们在 CEX 里的那些，也就是说，这个币庄家唱的是 “独角戏”：控盘了几乎所有的现货从而通过合约获利，这就是 SIREN 一个半月上涨 30 倍的秘密。在昨天晚上 SIREN 庄家密集归集了 66.5%… https://t.co/9CGR3TaL0Y pic.twitter.com/QoDjGvEeBy
— 余烬 (@EmberCN) March 23, 2026
SIREN token ownership appears highly concentrated among a few large holders, with unverified claims suggesting up to 88.5% of the supply may be controlled by a single entity, raising concerns about volatility. While these figures lack official confirmation, whale dominance means price movements are heavily influenced by large trades, contributing to sharp surges and swings in trading activity.
Wallet clusters point to centralized control
Blockchain data indicates that among the top 54 holder addresses, 52 wallets appear to be linked to a single entity. Excluding a burn address and a wallet associated with Binance Web3 services, the remaining wallets show coordinated accumulation patterns.
A majority of these addresses were involved in a recent large-scale consolidation event, during which 66.5% of the token supply was moved into clustered wallets over a short period. Additional wallets holding SIREN tokens trace their acquisition back to the same period in mid-2025, reinforcing the likelihood of common ownership.
Such concentration suggests that a dominant player may have near-total control over circulating supply, enabling influence over spot market liquidity and price movements.
Speculation around institutional Involvement
Market observers have pointed to possible involvement by DWF Labs, citing wallet activity that aligns with recent token transfers. Publicly known addresses linked to the firm reportedly hold a smaller portion of SIREN, but recent movements have drawn attention due to their timing.
The case highlights ongoing risks in low-float crypto assets, where concentrated ownership can significantly impact price discovery and market transparency. Meanwhile, institutional investors appear to be leaning into this narrative, signalling that digital assets are increasingly viewed as strategic hedges rather than speculative outliers in the global investment landscape.
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