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A Pi Core Team (PCT)-affiliated wallet has allegedly purchased 48.5 million Pi Coins from centralized platforms. The purchase is worth approximately US$31 million. It is done to avoid a significant price plummet following the recent Pi unlock event.
Crypto analyst, Dr Altcoin broke out that the wallet was only established two months prior and has been aggressively accumulating Pi. "Only very recently has this sub-wallet started to accrue Pi and it now has about 48.5 million coins," emphasized Dr Altcoin. "It's a shrewd way to avoid token burning, but it's short-term thinking only."
This shopping spree is against the backdrop of fears of a price crash. Rather than choose to burn tokens, which destroys supply permanently, the Pi Core Team appears to prefer direct market support in the form of buying. This indicates short-term support, but does not answer long-term questions.
As of 2.50 PM on 24 April 2025, Pi Coin was trading at $0.6449, down by 4.35% over the last day:
Thus far, the plan is working. Pi Coin has increased close to 6% in the past 24 hours, trading at over US$0.6. Trading volume has also gone up by 53.86%, remaining at US$116.4 million. The enthusiasts remain optimistic, particularly after a whale allegedly transferred 41 million Pi from exchanges. Thus, leaving the rumor mill churning with expectations of a rally to the US$5 level
There are still some serious questions regarding the long-term profitability of the crypto. Can the PCT continue to purchase Pi to avoid a breakdown? If not, analysts predict the price to drop as low as US$0.3. The drop will be significant, especially since there is no clear long-term plan or token usage.
Investors feel that Banxa has the potential to enhance price volatility. So, most of the community is calling upon the Pi Core Team to share a sustainable, long-term stabilization plan.
