PI Network price crashes in the middle of insider sales, drag the requirements

The price of Pi Network continued its trend of falling on Monday after a last week’s ecosystem event.

PI coin (Write) Token dived to 0.7165 USD, up to 57% from its highest levels this month. It also floats near its lowest level of 9. May. It deleted over $ 4.221 billion in the last few days because the market cap fell from $ 9.35 billion at the current 5.14 billion dollars.

PI The network price collapsed as concern about the rise of the coin. First, there are concerns that insiders sell tokens in their wallets. In X post, dr. Altcoin, Puldit on X, estimated that the team threw about 700 million coins in the last few months.

Another point of data on Piska The site shows that PI Foundation drew 15.02 million PI coins in the last 24 hours. The wallet now has 25.28 million coins worth over $ 18.1 million.

PI The network price also collapsed while the basic team was accused of dragging the mat at the beginning of this month. Some analysts are noted that the team sent a hp hint to a great announcement during a consensus event. This post started a short grip, which pushed the token for over 200%. Some analysts noted The Foundation for PI used a rally to sell more coins.

The key concern among investors and exchanges is that Pi Network A Highly centralized Cripto project not revised. PI Foundation has over 90 billion tokens, exposes the community to risk whether something like hak or token landfill happened. Worse, the basic team did not reveal any details about the membership of the Foundation.

Centralization is likely to explain why Tier-1 exchanges like a tavern and stage did not list three months after launch.

Further, there are concerns that PI network became a chain of spirit or block for developers without developers. While Pi Network VentureS Launch is a step in the right direction, analysts keep in mind that this might take For more than a year Before the launch projects are funded in Mainet.

PI Network price analysis price

The eight-hour chart shows that the price of PI coins was in a strong trend in the last few days. He switched from high $ 1,6708 12. to $ 0.7260.

Pi crossed the key support to $ 0,7902, the highest swing 5. And 12. April. There was below the 50-day average average and form a bear pattern of flag, a popular resume sign.

Therefore, the coin will probably continue to fall as sales aim for $ 0.5745, and the lowest swing 29. April.