SIREN Token Plummets 70% Amid Whale Sell-Off
- Token Plunge: SIREN token experienced a dramatic drop of over 70% in a single day, plummeting from the mid-$0.40s to around $0.14, resulting in a market cap decline from approximately $1.7 billion to near $100 million, indicating a severe loss of market confidence.
- Whale Sell-Off: EmberCN estimates that whales control at least 94% of SIREN's total supply of 680 million tokens, with about 17 million tokens (valued at approximately $6.75 million) moving across multiple addresses during the price drop, exacerbating market panic.
- Derivatives Market Shift: SIREN's open interest fell from a peak of around $98 million on June 8 to near $33 million, highlighting forced liquidations as investors exited leveraged positions, reflecting the high-risk nature of the market.
- Market Structure Analysis: Analysts suggest that the price volatility of SIREN may reflect concentrated holder sell-offs rather than fundamental issues with the project itself, with future price movements likely dependent on the actions of these large holders.
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Technical Analysis for X
Technical Sentiment Analysis for X Empire (X). As of , X Empire (X) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for X stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, X is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
X Empire (X) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000533 | 0.00000718 | 0.00000928 | 0.0000111 | 0.0000132 | 0.0000151 | 0.0000172 |
| Fibonacci | 0.00000718 | 0.00000869 | 0.00000962 | 0.0000111 | 0.0000126 | 0.0000136 | 0.0000151 |
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