On Wednesday, SIREN coin, a BSC-based memecoin, surged by more than 110% after falling from $2.5 to a low of $0.79. The fall came after an analyst on Bubblemaps revealed a possible price manipulation and dump. It was seen that SIREN supply has a wallet cluster controlling 644 million of 728 million circulating tokens (88%), and 90% of its accumulation was on a group of wallets. Also, the negative funding rates since 14 March for SIREN coin are a big blow to new participants. Negative funding rates meant the short position holders are paying longs, indicating a bearish sentiment. The live chart movement for SIREN coin prints a sold reistacne at $2.37 that is a 0.5 Fibonacci retracement and a support at $1.8. If the Volume turns green and one green close, do Derivates markert will change the market sentiment, beginning fresh capital. A further close below $1.8 will drive the rally near $1. SIREN coin will gain potential to break above the resistance at 0.5 Fibonnaci, $2.92 is the next resistance, and if social Media sentiment continues stronger, we can see $3 on the cards for Siren memecoin cryptocurrency. SIREN needs a strong close above resistance.
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