After the SIREN controller dumped the tokens, they bought back the remaining tokens at a low price, resulting in a 96% price drop due to the turnover of 680 million tokens.

CoinFeed reported on June 15th that, according to on-chain analyst Yu Jin, within two days, the SIREN controllers have essentially broken down all 680 million SIREN tokens (94% of the total supply) into smaller units. This sell-off caused the price to drop by 96% (from $1.30 to $0.05), yielding approximately 64.8 million USDT. About 200 million of these SIREN tokens flowed into centralized exchanges such as Binance, Gate, and KuCoin, with most being purchased in small amounts on-chain by hundreds of addresses after the price fell below $0.10. These small purchases are likely still the work of the controllers, aimed at accumulating tokens at low prices, increasing the difficulty of tracking, and preparing for the next manipulation.