PI Network Faces Price Dip Amid Suspected Whale Manipulation
PI Network's token price unexpectedly dropped 1.57% to $0.46 despite positive developments like the Pi App Studio launch, raising investor concerns about market manipulation.
Order book analysis shows buy orders dominating at 58% versus 42% sells, yet large sell walls at $0.459 with clustered buy orders at $0.457 suggest possible whale activity to suppress prices before accumulation.
The July 4 unlock of 270 million PI tokens added selling pressure, with market observers noting this classic pattern often precedes significant price movements, mirroring historical crypto market behaviors.