Pi Coin Price Struggles Despite Brief Gains

Pi coin currently sits at a 5.5% low as, at the time of writing, the token price of $0.7416 is a 53% low from its highest point this month, ranking it among the worst major performers.

Pi coin has once again drawn market attention to itself as 2 million tokens were seen shifting to exchanges, raising questions about whether this signals a major sell-off or typical market activity.

Many Point to A Potential Pi Coin Dump

As interest in buying Pi coins seems to be waning, there are increasing signs that holders are transferring their tokens to sell. This is evidenced by a substantial influx of coins into trading platforms, such as OKX, Bitget, and Gate.io.

Within a 24-hour period, almost 4.5 million Pi coins were sent to OKX, while 3.2 million were withdrawn, leaving a net total of 829,000. Bitget saw an increased transfer of about 1.4 million, and Gate $2.2 million. Only MEXC recorded more withdrawals than deposits. In total, over 1.3 million tokens flowed into exchanges within 24 hours.

This move could have a significant impact on the tokens’ price, especially given the recent claims of an insider rug pull within the project. The next few days could be critical for Pi Coin’s price and overall market confidence.

Pi Coin Price Struggles Despite Brief Gains

The token price of $0.7416 is a 53% low from its highest point this month, making it one of the worst major coins this month. A few weeks ago, the token price reached $3, a price many had anticipated, but it quickly fell to $0.60 that same day. It later climbed back to $3 within 34 days, leading many early buyers to sell and take profits.

At the moment, the token’s key resistance levels are $0.94, $1.20, and $1.66. If the price could move above these points, then it would possibly hit $3. On the flip side, $0.65 remains an important support level. If the coin falls under this, it might face more selloffs.