Pi Network to Turn Volatile amid 50% Monthly Drop: Analyst
The post Pi Network to Turn Volatile amid 50% Monthly Drop: Analyst appeared on BitcoinEthereumNews.com.
Key Notes PI has lost nearly 50% in a month and is now trading around $0.61. Analyst Dr Altcoin warns of possible wash trading via Banxa-linked micro wallets. Recent PI price breakdown from a rising wedge pattern points to a drop toward $0.44–$0.45. Pi Network’s native token PI PI $0.61 24h volatility: 1.2% Market cap: $4.23 B Vol. 24h: $118.26 M is currently trading near $0.61, having shed nearly 50% of its value in the past month. The token is 80% down from its yearly highs, with signs pointing to a potential deeper collapse. This comes as pseudonymous crypto analyst Dr Altcoin recently claimed that crypto trading Banxa is enabling the creation of multiple accounts, each loaded with 0.98 PI — a suspiciously uniform balance. #Banxa is creating many new accounts, each with a balance of 0.98 Pi. This could lead to price volatility soon. pic.twitter.com/Z4zxgp8Cgg — Dr Altcoin (@Dr_Picoin) April 17, 2025 He warns that this could be the start of wash trading schemes or coordinated dumping, both of which are methods of artificially manipulating price trends. Notably, these micro wallets are likely being used to dodge detection rules by staying under key thresholds. Meanwhile, whale wallets are accumulating PI, pulling 6 million tokens off exchanges in just 48 hours. This generally signals long-term confidence in the cryptocurrency, but in this case, many believe that this buying spree could be part of a potential pump and dump scheme. This comes as a recent DappRadar report revealed despite a 66% year-on-year decrease in the number of crypto rug pulls compared to 2024, the intensity of each rug pull has been increasing. PI Price Outlook On the 4-hour PI price chart, the token recently broke down from a rising wedge, a classic bearish reversal pattern. Traders can expect a drop to…
