Siren Song for the Brave: SIREN Bounces 54% After Whale Dumps $64M, Yet Still Stuck Below the Fish Line 🐳

siren [SIREN] climbed 54% over the past 24 hours to trade at $0.109, recovering from a low of $0.07 after a whale sold 670 million SIREN worth $64 million, according to CoinMarketCap data. The memecoin hit a local high of $0.112 before retracing slightly and was up 36% over the past hour at press time. Despite the rebound, SIREN remained below all major moving averages.

Spot demand strengthened as funds continued exiting centralized exchanges over the past three days. SIREN recorded $623,000 in Spot Outflows and $496,000 in Spot Inflows over the past day, pushing Netflow down 686% to negative $126,000. A negative Spot Netflow indicates that buyers outpaced sellers, a pattern consistent with continued accumulation.

Binance traders also showed a stronger appetite for risk. The exchange's Long/Short Ratio averaged 4, while Top Trader Accounts stood at 4.6 and Top Trader Positions reached 4.2. Such elevated readings pointed to heavy long-side positioning and expectations of further upside among market participants.

Even with the recovery, broader market structure remained weak. SIREN's Relative Strength Index sat at 33, deep in bearish territory near oversold levels, while the Bulls vs Bears indicator stayed negative. With bears still controlling momentum, the memecoin could face additional weakness if selling resumes, though holding the $0.07 floor would open a path toward $0.14.