Pi Network Faces Bearish Pressure as Whale Activity Sparks Sell-Off Concerns

BTCC / BTCC Square / Global Cryptocurrency /

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2025-05-23 12:01:14

[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN] PI News -

Pi Network (PI) bucked the broader market recovery trend on Friday, dropping 4% to $0.79 as on-chain analytics revealed significant whale movements. PiScan detected large transactions occurring alongside rumors that the Core team may be liquidating tokens to finance a $100 million startup initiative announced at Consensus 2025.

Technical indicators turned bearish following a trendline breakdown, with analysts suggesting a possible retest of May’s $0.66 support level. Pi has plummeted 62% from its May 12 peak of $1.67, reflecting diminished enthusiasm post-Consensus as traders prepare for potential further declines.

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