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Pi Network’s PI Token Plunges 50% Amid Insider Sell-Off Allegations
Pi Network’s PI Token Plunges 50% Amid Insider Sell-Off Allegations
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[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
Pi Network’s native token PI experienced a sharp 50% decline, leading to accusations of insider selling. Blockchain investigators uncovered a transfer of 12 million PI during the token’s peak at $1.60, with community leader Dr. Picoin alleging that Core team members coordinated the sell-off.
The controversial transactions coincided with promotional announcements, which critics describe as a ’smokescreen’ to create exit liquidity. Market analysts note the pattern resembles classic rug pull strategies, though Pi Network’s decentralized framework makes accountability challenging.
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