The PI Network is an excellent project and gained prominence after a poll on Binance (89% in favor), leading many to believe in a rise, possible listing, and to buy, but without listing the PI, its price plummeted to ~$0.50 in the span of a month, which is not the project's fault. Those who know the traps of whales understand this.
Recently, a large investment ("whale") increased its value, and the media started talking about the project again.
Suspicious pump and dump pattern:
1️⃣ Planned previous drop – The chart shows a large initial purchase, followed by regular sales to maintain the drop, with spaced purchases at almost timed intervals (different from organic movements). The PI was in free fall for over a month.
2️⃣ Sudden investment (cheap buy before the pumping) and negative narratives – Experts and brokers (like BYBIT) released controversial statements, discouraging investors and undermining confidence in the asset.
3️⃣ Sudden hype – Now, with the price at the bottom, positive news and influencers promoting the coin emerge (possible preparation for a dump).
Be careful! If there is a sudden rise followed by a sharp fall, manipulation is confirmed. Stay alert to the movements and avoid FOMO. 🚨
It is clear that the PI Network is an excellent project that for unknown reasons is being sabotaged. I have no doubt. I have been following since the launch, and the brokers have closed their doors to the project, while opening them to other more commercial projects, like #BlockDAG , which is a copy of #PiNetwork in terms of commercial presentation of the project... even the mining app is almost identical ...