Pi Coin Drops Over 50% Last Week from Its High of $1.40. However, a Large Amount of Pi Coins Is Being Moved Between Wallets and Exchanges

Recently, about 14 million Pi tokens were moved from an exchange into Pi wallets. This usually means that some big investors or holders are taking their Pi off the market to hold onto it safely

Pi Network, the cryptocurrency project that allows users to mine tokens through an app, has seen a significant price drop of over 50% last week from its high of $1.40. Despite the price decline, a large amount of Pi Coins has been moved between wallets and exchanges, catching the attention of crypto enthusiasts.

About 14 million Pi tokens were recently moved from an exchange into Pi wallets, usually indicating that some big investors or holders are taking their Pi off the market to hold onto it safely, showing their belief in the project’s future. Previously, 70 million Pi Coins were also withdrawn from OKX, further highlighting the activity in the Pi market.

Some rumors speculate that the wallet belonged to OKX or the Pi Core Team itself, but concerns over a potential sell-off by the core team still remain. As the project progresses, the price of Pi Coin is expected to rise to $0.937 in May, a 24% increase from its current level, according to CoinCodex. Experts predict that it could reach $2.34 by June and possibly $4.44 by November 2029, if its user base grows and the project develops successfully.

The amount of Pi Coins held on exchanges has also reached an all-time high of 397 million Pi. However, with around 7.6 million Pi Coins set to be unlocked today, it could add further volatility to the already struggling market. The technical signals for Pi are mixed, with short-term price trends mostly looking weak, indicating that the price might drop soon. However, a few longer-term indicators suggest that there could be buying opportunities ahead.