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PI Token Crashes 57% Following Suspected Insider Sell-Off
PI Token Crashes 57% Following Suspected Insider Sell-Off
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[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
PI Network’s token value nosedived to $0.7165, wiping out $4.21 billion in market cap within days. The cryptocurrency now hovers near its May 9 lows as investors raise concerns about the project’s transparency.
Blockchain forensic analysts detected unusual wallet activity, including a 5.4 billion PI transfer between foundation-controlled addresses. crypto analyst Dr. Altcoin claims project insiders may have dumped approximately 700 million tokens, sparking fears of a potential rug pull.
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