siren [SIREN] plunged more than 55% over the past 24 hours, with its market cap collapsing to $40.78 million. At its peak, the memecoin was valued at $2.77 billion. Daily trading volume reached roughly $194 million, nearly five times its market cap. Despite the crash, SIREN still had around 62,050 holders at press time. This left traders questioning whether the token was facing a temporary collapse or something more serious.