Pi coin price declines, what is insider selling reasons
Pi Network (Pi), which became increasingly popular in Crypto World, has suffered a major setback. Recently, due to many worrying news related to this project, there has been a sharp decline in Pi Coin Price. In the last few days, the value of Pi Token has fallen to $ 0.7165, which is about 57% below the highest high price of May.
Market cap declines by $ 4.2 billion
There was a time when the market cap of Pi Coin reached $ 9.35 billion, but now it has fallen to $ 5.14 billion. That is, investors have lost more than $ 4.21 billion in a few days.
Insider Selling fears
The biggest reason for this decline is considered the news of “Insider Selling”. Famous Crypto Experts Dr. According to Altcoin, Pi Core Team has sold around 700 million PI coins in the last few months. This has created heavy pressure in the market.
At the same time, according to the information received on the PISCAN website, in the last 24 hours, Pi Foundation has removed 15.02 million tokens from its wallet. This wallet still has 25.28 million Pi coins left, with more than $ 18.1 million.
Rug Pull allegations also emerged
In early May PI Network allegations of Pulling a Rug Was engaged According to reports, Core Team tweeted a big announcement during the CONSENSUS 2025 Event. Due to this, the price of tokens suddenly increased by 200%.
Later, it was alleged that the team took advantage of this price spike and sold a large amount of tokens. This further deepened that all this could be a sponsored pump and dump scheme.
Concern about centralization
Another big issue regarding Pi Network is its Centralization Structure. According to reports, Pi Foundation still has more than 90 billion Pi coins. This means that most of the control of tokens is with only a few people, which may threaten the entire community in conditions like scam or hacking.
Furthermore, till now the Foundation has not clarified who is operating their funds. Due to lack of this transparency, people’s trust in PI Network is becoming weak.
Why Coinbase and Binance are not listing?
Many people are asking the questions that yet Pi coin listing on binance And why Tier-1 exchange like coinbase has not done Pi Coin List. The main reason for this is – centralization, deficiency of transparency and non -audit of projects.
Until Pi Network is a reliable and open system, the possibility of listing by these big exchanges is rarely considered.
Ghost Chain is becoming Pi Network?
Some analysts believe that Pi Network is now becoming a “Ghost Chain”, that is, becoming a blockchain where developers are activities integral. Although the launch of PI Network Venture is a positive step, analyst says that it may take more than 1 year for funded projects to come on the main network.
Technical Analysis: Can the price fall?
Looking at the 8 -hour chart of Pi Coin, it has been observed that the price has fallen from $ 1.6708 to $ 0.7260. PI has now broken its old support level $ 0.7902.
In addition, tokens have started trending under the 50-day moving average and now it is making the Bearish Flag Pattern, indicating that the price may fall further.
Experts estimate that the next support level may be $ 0.5745, which is around the Voltyness Point of April 29.