Blockchain intelligence firm EmberCN has issued a fresh manipulation warning covering four small-cap altcoins: SIREN, AKE, XPIN, and BTR. According to the analyst, wallet address relationships and price patterns suggest the same active market maker may have been involved in coordinated price movements across all four tokens.
EmberCN specifically highlighted AKE, noting that after a sharp decline of roughly 60% at the beginning of July and an exit of many leveraged investors, the token gained approximately 52 times its value in the following month. The analyst called the move remarkable and said it appears linked to a suspicious market maker whose associated addresses also traded SIREN, XPIN, and BTR.
In a separate on-chain finding, two wallet addresses beginning with 0x6449 and 0x58B0 deposited a combined 1.324 billion XPIN tokens, valued at about $1.71 million, into Binance Alpha. Following the deposit, XPIN’s price dropped 29%, from $0.0017 to $0.0012. EmberCN said the same addresses were previously suspected of manipulating SIREN’s market price in June through coordinated buy and sell orders.
The firm stated that its findings are not definitive proof of wrongdoing, but the on-chain address relationships and price movements raise clear suspicions of manipulation. The events highlight the risks associated with low-liquidity tokens, where large exchange deposits can precede sharp sell-offs.
