Is Pi Network on the Brink of a Meltdown? You Won’t Believe What Happens Next! 😱

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In the dusty corners of the digital frontier, the on-chain data from Pi Network (PI) seems to mock the hopes of Pioneers everywhere. The number of Pi coins on centralized exchanges swells like a summer river, while the trading volume sinks like a stone.

Analysts, those harbingers of doom, are ringing alarm bells, warning that these trends could lead to a price drop faster than a hot potato. Yet, the Pioneers cling to their faith, believing that sometimes, a loyal community can work miracles in the wild world of crypto. Who needs logic when you have hope? 😂

PI Supply on Exchanges Rises Sharply, Analyst Warns of Potential Drop to $0.1

According to the oracle known as Piscan, the number of Pi coins lounging on centralized exchanges (CEXs) has ballooned from 263 million in early March to a staggering 345 million by May. That’s a 30% increase in just three months! Talk about a party! 🎉

This rising tide of supply raises eyebrows and concerns about a potential sell-off that could flood the market.

“The only consistent thing about PI is the increasing number of coins in exchanges. The number now stands at 347.6 million PI. It has been rising every single day,” quipped Investor Moon Jeff, probably while sipping a piña colada.

But wait, there’s more! Investors have noticed that coins are flowing out of wallets belonging to the Pi Foundation team. Are they transferring coins to exchanges or just playing a game of digital musical chairs? 🎶

The combination of this growing supply and the mysterious outflows could create a sell pressure that might just send PI’s price tumbling down like a house of cards.

Pi Trading Volume Drops 90%

While the supply is on the rise, trading activity is taking a nosedive. According to the wise sages at CoinMarketCap, Pi Network’s weekly trading volume plummeted from $5.4 billion to under $500 million. That’s a drop of over 90%! Ouch! 😬

“The strength and power to go up is gone with an always decreasing trading volume,” lamented one investor on X, probably while staring into their coffee cup.

In theory, when the supply increases and trading volume decreases, market depth weakens. If selling pressure rises, prices could fall faster than a cat off a hot tin roof.

The X account Pinetworkmember declared that Pi Network is at a critical crossroads. According to their analysis, PI’s price could either plunge to $0.1 or rebound to $1.7. It’s a classic case of “Will it or won’t it?” The outcome hinges on market whims and community reactions. Spoiler alert: the analyst is leaning toward the bearish side. 🐻

Additionally, a recent analysis from BeInCrypto pointed out that PI is facing more downward pressure due to upcoming token unlocks. Around 337 million PI tokens are set to be released in the next 30 days. Buckle up, folks!

Despite the storm clouds of bearish signals, many Pioneers are blissfully ignoring the market price on exchanges. They remain fixated on the Global Consensus Value (GCV) of $314,159. Because who needs reality when you have dreams? 🌈

Some have chosen to hold onto their PI like a squirrel hoarding acorns. However, they refuse to buy more until the Pi Core Team shows some clear progress. Patience is a virtue, right?

Regardless, the total amount of PI listed on exchanges is still a drop in the bucket compared to the more than 4 billion PI in circulation. The rest remains tucked away in wallets held by Pioneers, reflecting their unwavering belief in the future of Pi Network. Keep the faith, folks! 🙏

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2025-06-18 11:11