Pi Network Plunges: Insider Selling Suspected After Major Price Drop

Allegations of insider selling have rocked the Pi Network, leading to a sharp drop in its price and sparking concerns about the project’s legitimacy. Blockchain researcher Atlas claims that 12 million PI coins were transferred from a wallet linked to the team to exchanges during a period coinciding with a significant price surge followed by a sharp decline. This has raised suspicions of an organized sell-off orchestrated to manipulate the market.