The AI-themed memecoin Siren (SIREN) surged 27% in a day, extending its weekly gains to 97% as speculative momentum accelerated on the BNB Chain. However, data from Nansen revealed aggressive bot participation, with one wallet accumulating over $100,000 worth of tokens in two hours, suggesting inorganic demand. Market structure showed a breakout, but weakening momentum and key liquidity clusters indicate the rally may be approaching a technical crossroads.
The AI-themed memecoin SIREN surged 27% in the last 24 hours, extending weekly gains to 97% as speculative momentum accelerated. Its daily trading volume climbed to $17 million, suggesting renewed trader participation on the BNB Chain.
On-chain data hinted that the demand may not be entirely organic. Data from Nansen showed aggressive bot participation over the past 24 hours.
One wallet accumulated more than $100,000 worth of SIREN within two hours, beginning near the $0.21 level. The price subsequently advanced more than 41%, suggesting algorithmic activity fueled the breakout.
Open Interest stood at $36.56 million, according to CoinGlass, well below the peak near $59 million earlier in February. This divergence indicates limited conviction from derivatives traders, placing scrutiny on spot-driven flows.
Price action confirmed a Market Structure Break on higher timeframes as SIREN flipped the $0.25 resistance into support. However, the Bull Bear Power indicator showed weakening bullish pressure after a recent high.
On lower timeframes, the price formed a rising wedge pattern, which often precedes short-term pullbacks. The token appeared at a technical crossroads.
The Liquidation Heatmap for the past three days showed denser liquidity clusters building between $0.26 and $0.28. A run triggering orders around $0.28 could result in a short squeeze, while a move to $0.26 might cause a long squeeze.
Therefore, SIREN remained in an upward rally, but caution was warranted due to dominant bot trading. Liquidity was building on both sides while a potential reversal pattern formed.
