Pi Coin的價格在5月12日飆升至近1.7美元，然後跌至1美元，使許多投資者遭受了沉重的損失。

專家警告說，PI網絡內的潛在價格操縱和人造通貨膨脹。

The price of Pi coin soared to nearly $1.7 on May 12 before plunging back to $1 just hours later, leaving many investors with heavy losses.

5月12日，PI硬幣的價格飆升至近1.7美元，然後在僅僅幾個小時後才降至1美元，這使許多投資者遭受了巨大的損失。

Experts have warned of potential price manipulation and artificial inflation within the Pi Network.

專家警告說，PI網絡內潛在的價格操縱和人造通貨膨脹。

"This is a classic sign of price manipulation. After a period of sustained rise, the coin suddenly faced a strong correction, reducing the price by nearly $0.7 in a short span of three hours," said Nguyen Ha Minh Thong, founder of Cabo Capital in Ho Chi Minh City, in a statement on May 12.

“這是價格操縱的經典跡象。一段時間持續上升後，硬幣突然面臨著強有力的糾正，在短短三個小時內將價格降低了近0.7美元，” Ho Chi Minh Citaus在5月12日的一份聲明中說。

On the afternoon of May 12, Pi suddenly jumped from $0.7 to $1.68. Yet by the evening, it dropped sharply to $1 and is now fluctuating between $1 and $1.3.

5月12日下午，PI突然從0.7美元躍升至1.68美元。然而，到了晚上，它急劇下降到1美元，現在波動在1至1.3美元之間。

The project has a maximum supply of 100 billion Pi. With 1.4–1.5 billion tokens expected to be unlocked over the next 12 months, downward pressure on the price is likely unless demand rises proportionately.

該項目的最大供應量為1000億PI。預計在接下來的12個月內將解鎖1.4-15億個令牌，除非需求按比例增加，否則價格下降的壓力很可能。

Currently, about 7 billion Pi are in circulation, but the Pi Core Team reportedly holds over 35 billion, raising concerns about centralized control and the risk of large-scale sell-offs.

目前，大約70億PI正在流通，但據報導，PI Core團隊持有超過350億，對集中控制和大規模拋售的風險引起了人們的擔憂。

At its listing, the price fell from $2.2 to $0.6 within 24 hours. In April, it dropped from $2.99 to $0.4. These crashes have caused major losses for many investors.

在上市時，價格在24小時內從2.2美元下降到0.6美元。 4月，它從2.99美元降至0.4美元。這些崩潰給許多投資者造成了重大損失。

Trading volume on May 12 reached nearly $2 billion. This opens up the possibility that whales or exchanges are manipulating Pi's price to trigger FOMO buying, only to dump it later and crash the price.

5月12日的交易量達到了近20億美元。這打開了鯨魚或交易所正在操縱PI的價格以觸發FOMO購買的可能性，只是在以後將其丟棄並崩潰。

"It's important for users to stay alert, avoid FOMO, and prioritize financial safety and data privacy before investing time, money, or personal information into Pi Network," Thong added.

Thong補充說：“對於用戶，在將時間，金錢或個人信息投入PI網絡之前，保持警惕，避免FOMO並優先考慮財務安全和數據隱私。”

The project offers a unique opportunity to earn cryptocurrency for free. However, there are growing concerns over withdrawal restrictions, extreme price swings, lack of transparency, and scam risks.

該項目提供了一個獨特的機會，可以免費獲得加密貨幣。但是，人們對退出限制，極端價格波動，缺乏透明度和騙局風險的關注日益加劇。

"The recent surge in Pi coin's price is a positive signal, but it doesn't mask the project's underlying issues," Thong said.

Thong說：“ Pi Coin價格最近的激增是一個積極的信號，但並沒有掩蓋該項目的潛在問題。”

Social media and online communities devoted to Pi Network have been flooded with posts hyping the coin and misleading users.

專門用於PI網絡的社交媒體和在線社區充斥著帖子，宣傳了硬幣和誤導用戶。

During price spikes, many posts falsely claim that Pi will continue rising, encouraging panic buying. When the price drops, others use flawed logic to reassure investors - arguing that buying at $0.7 and selling at $1 still means a profit - or spread unverified rumors about upcoming Binance listings or imminent appearances by Pi's founders.

在價格上漲期間，許多職位錯誤地聲稱PI將繼續上升，鼓勵恐慌購買。當價格下跌時，其他人則使用有缺陷的邏輯來保証投資者 - 認為以0.7美元的價格購買，以1美元的價格購買意味著利潤 - 或傳播有關Pi的創始人即將出現的二元列表或即將出現的未驗證的謠言。

Such content has led many to purchase Pi at inflated prices, resulting in significant financial losses.

這種內容導致許多人以膨脹的價格購買PI，從而造成了巨大的財務損失。

Experts in crypto investment advise that these promotional tactics are dangerous, especially in communities where most Pi miners have limited technical knowledge. They're led to believe that Pi's value will skyrocket, so they invest blindly.

加密投資專家建議，這些促銷策略是危險的，尤其是在大多數PI礦工具有有限技術知識的社區中。他們認為Pi的價值會飛漲，因此他們盲目投資。

Currently, Vietnam lacks a legal framework to regulate cryptocurrency transactions. The State Bank of Vietnam has repeatedly warned against owning, buying, or using cryptocurrencies like Bitcoin, stating clearly that such activities are not protected by law.

目前，越南缺乏規範加密貨幣交易的法律框架。越南國家銀行一再警告不要擁有，購買或使用像比特幣這樣的加密貨幣，並清楚地指出，這種活動不受法律的保護。