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One Altcoin Defies the Crash: Inside SIREN’s 865% Monthly Surge and What’s Next

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The current cryptocurrency environment does not lay down the foundations for what SIREN has done. Just the opposite; most top 100 alts are in the red daily, or weekly, some even monthly. Even those who manage to post sporadic double-digit gains here and there quickly reverse their trajectories and head south.

And then, there was one that (currently) rules them all. It sounds almost far-fetched that a top 60 altcoin could produce a triple-digit surge in just a day, but that’s the reality. SIREN just did it by blasting through $2 and charting consecutive all-time highs.

SIREN’s Scene

As the general explanations on Google will demonstrate, SIREN comes from the highly praised and hot world of artificial intelligence. It’s an “AI-powered cryptocurrency project operating on the BNB Chain that combines decentralized finance (DeFi) and artificial intelligence for automated trading, risk management, and intelligent order matching.”

In other words, it aims to combine all the right words (perhaps without Virtual Reality) from the past five years – blockchain, DeFi, and, of course, AI. This blend has brought it immense success. Just look at the monthly graph – a mind-blowing 865% surge since this time in February, while most other larger-cap alts or bitcoin have remained sideways at best.

Even if you scroll to the daily performance, what a daily performance it is. SIREN has rocketed by 135% (that’s 135%, yes) in the past day. It marked a few consecutive all-time highs today, with the latest being at $2.33 hours ago (mind you, there might be another by the time you have read this article).

SIREN Price on CoinGecko
SIREN Price on CoinGecko

What’s Next?

The cryptocurrency community looks for and up to such performances. It has grown to expect them from smaller alts. However, that’s in a bull cycle, and the current environment is anything but that. So, even though some were caught off guard by SIREN’s massive surge, the calls on X are quite spectacular.

Some analysts are predicting further big runs, perhaps to $10 or more. Others can’t catch up as SIREN’s price moves faster than their posts about resistance/support levels go live.

Interestingly, CoinGecko data shows that SIREN has become the top YTD gainer from the largest 7,000 cryptocurrencies. And, that post was from yesterday when the AI altcoin ‘struggled’ below $0.90. Today, it’s more than 2x that level.

They believe a strong portion of these gains came from the AI craze, but also from CZ’s recent actions on the matter. Whatever it is, though, keep in mind that nothing goes straight up. In fact, there was some sort of law saying that “what goes up must come down.” It was gravity or something like that. It might appear as if SIREN has escaped those laws now, but if you are an investor wanting to hop in on this craze, you might want to let the situation cool off first.

The post One Altcoin Defies the Crash: Inside SIREN’s 865% Monthly Surge and What’s Next appeared first on CryptoPotato.

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