Pi Network (PI) Coin Price Drops 50% from ATH as Large Holders Move Millions of Tokens Ahead of Token Releases

Pi Coin is the center of attention after plummeting more than 50% from its highest price. Behind the market turmoil, large movements between wallets and exchanges show the actions of large holders.

Jakarta, Pintu News – Pi Coin has been the center of attention after plummeting more than 50% from its highest price and the future price outlook looks promising.

However, the market remains risky with record holdings on exchanges and potential volatility from token releases.

14 Million Pi Tokens Change Places

As shared by Coinpedia (5/20), Pi coin has dropped more than 50% in the last week from its highest price of $1.40.

But, large amounts of Pi Coins have been circulating as they move between wallets and exchanges. Here’s an explanation.

Recently, around 14 million Pi tokens have been moved from an exchange to Pi wallets. This usually signifies that some large investors or major holders are withdrawing their Pi from the market to keep it safe.

And, this move often shows that they have confidence in Pi’s future.

Previously, as much as 70 million Pi Coins have been pulled out from OKX. There are speculations that the wallet is owned by OKX or even by the Pi Core Team itself.

However, concerns remain regarding a possible massive sale by the Pi Core Team.

Some experts predict that the price of Pi could reach $2.34 in June and potentially rise to $4.44 by November 2029, provided the user base continues to grow and the project is successfully developed.

Recently, the amount of Pi Coin held on exchanges reached a record high of 397 million Pi. However, concerns have been raised that around 7.6 million Pi Coin will be unlocked today, potentially adding to volatility in an already sluggish market.

Technically, the signals for Pi Network show mixed results. The short-term price trend appears weak and indicates a possible price decline in the near future.

However, some long-term indicators point to future buying opportunities.

That’s the latest information about crypto. Stay tuned for the latest news from Google News.

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