Siren (SIREN) is experiencing a sharp correction, plunging 20.4% to $0.297476 in the past 24 hours as the cryptocurrency market faces renewed selling pressure on February 28, 2026.
The token’s market capitalization has decreased by $54.07 million, or 20.04%, bringing its total valuation down to $215.72 million. This places Siren at rank #167 among all cryptocurrencies by market cap.
Dramatic Reversal From All-Time High
The selloff marks a significant reversal from Siren’s all-time high of $0.543149, reached just two days ago on February 26, 2026. The token has now declined 46.4% from that peak, indicating a rapid shift in market sentiment.
Trading activity has intensified during the downturn, with 24-hour volume reaching $15.42 million. The token hit an intraday low of $0.289399 before recovering slightly to current levels, while the 24-hour high of $0.396334 represents a 33% swing in prices.
Technical Trading Range
Siren traded within a wide range over the past day, establishing support near $0.289 and resistance at $0.396. The current price of $0.297 suggests consolidation near the lower end of this range, raising questions about whether further downside lies ahead.
Despite the sharp 24-hour decline, Siren maintains significant gains over longer timeframes. The token is up 35.2% over the past seven days and shows an impressive 230.4% gain over the past 30 days, indicating the recent price action represents a correction within a broader uptrend.
Market Dynamics
With a circulating supply of 728.86 million tokens out of a maximum supply of 1 billion, approximately 73% of total SIREN tokens are currently in circulation. The fully diluted valuation matches the current market cap at $215.72 million, suggesting minimal additional supply overhang.
Short-term price movement showed a 0.45% gain in the past hour, potentially signaling stabilization after the steep decline. However, traders remain cautious as the token navigates elevated volatility.
The token remains up over 1,000% from its all-time low of $0.0263 recorded in March 2025, demonstrating the significant appreciation Siren has experienced over the past year despite today’s correction.
Market participants will be closely monitoring whether Siren can hold support at current levels or if additional selling pressure emerges in the coming sessions.
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About the Author: Ananya Melhotra
