According to monitoring by Yu Jin, among the top 54 SIREN token holder addresses, except for the burn wallet and Binance's Web3 wallet, the remaining 52 addresses are suspected to be owned by the same controlling party. Among them, 48 addresses are those that previously intensively aggregated SIREN, while the SIREN in the other 4 addresses can be traced back to purchases made between late June and early July last year. This controlling party holds a total of 644 million SIREN, accounting for 88.5% of the total supply, valued at $1.44 billion.
Yu Jin pointed out that the controlling party profits by controlling almost all spot tokens and utilizing contracts, which is the reason why SIREN surged 30-fold within a month and a half. This controlling party is suspected to be DWF Labs, whose publicly known wallet holds 3 million SIREN. Moreover, intensive aggregation of 66.5% of the tokens occurred the day after DWF Labs transferred SIREN.