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NOIDA (CoinChapter.com)— Pi Network’s ongoing lack of transparent communication leaves its user base vulnerable. As the network remains tight-lipped, rumors and unverified claims fill the void, creating an environment ripe for misinformation and scams.
The latest buzz claims that Pi Network is cracking down on fraudulent accounts, though the specifics remain unclear. Without clear communication from Pi Network’s core team, users must navigate a landscape filled with speculation and uncertainty, which makes them easy prey for bad actors.
The Alleged Crackdown: Doubts and Skepticism
Recent reports suggest that Pi Network has been actively deleting accounts that are involved in unauthorized transactions. A screenshot, purportedly from Pi’s blockchain, has been making the rounds, showing details of these deleted accounts.
If true, the move would represent a significant step by Pi Network to curb fraudulent activities within its ecosystem. However, the source of this information, Hokanews, is notorious for spreading unverified and sensational claims.
Pi Network alleged address purge screenshot.
The same outlet reported Pi Network’s supposed integration with Visa and falsely claimed that Elon Musk would accept Pi Coins. These claims were nothing more than rumors, misinterpreted cues, and shilling campaigns.
Hokanews’ history of misinformation raises serious doubts about the validity of these reports. The absence of confirmation from Pi Network’s official channels only adds to the confusion and leaves the community in a precarious position.
The silence from Pi’s core team on this matter creates an environment where rumors can flourish unchecked.
The network’s leadership has not issued a clear and authoritative statement, which makes these claims likely just another example of misinformation. Instead of conveying accurate information, they seem designed to generate hype.
The Pi Network community, already on edge due to the platform’s opaque communication strategy, now faces the challenge of separating fact from fiction in a landscape where rumors often gain more traction than truth.
As users scramble for credible information, the platform’s lack of transparency undermines trust.
PI Coin IOU Price Plummets
Meanwhile, the Pi Coin IOU price dropped nearly 10% on Aug. 23 to reach a daily low near $34.2 before recovering.
PIUSDT daily price chart with RSI. Source: Tradingview
Following the PI USD pair’s recent rally, the drop ended the consolidation phase. Despite being short-lived, the rally was a welcome departure from the usually horizontal PI coin price action. Even trading pairs like the PI-INR pair had been crabbing, refusing to provide the drama some traders crave.
The PI network token has support near the $35.4 and $33.3 price levels. Moreover, if the Pi Network token price starts a rally, PI coin price could rise to the resistance near $39. Flipping the immediate resistance might help PI USD pair reach the resistance near $41.5 before recovering.
The RSI remained neutral, with a score of 46.63 on the daily charts.
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