Pi Network Mainnet Migration Issues Could Spark a Crash Below $0.50
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The post Pi Network Mainnet Migration Issues Could Spark a Crash Below $0.50 appeared first on Coinpedia Fintech News In the last 30 days, PI price has plunged by 35%, and over the past 14 days, it’s down 13.7%. This week alone, Pi has dropped 4.4%, now trading at $0.5379 — just above the critical $0.50 psychological support level. With rising exchange deposits and on-chain red flags, analysts warn that a crash below $0.50 is likely. Here’s what the data says. Pi Network Migration Chaos: KYC Failures, Missing Balances, and 2FA Glitches Pi Network’s highly anticipated mainnet migration has turned problematic for many users. Several users claim their KYC verification is failing, even after multiple attempts. Others report 2FA errors, preventing them from accessing wallets or transferring funds. Most concerning, many users say their balances have disappeared post-migration, despite following all the required steps correctly. These technical issues have led to growing frustration in the Pi community, with some now questioning the network’s ability to scale reliably. Pi coin Sell-Off According to PiScan, over the past 24 hours: 7.9 million PI tokens were moved from Pi Foundation 2 wallet, linked to the Core Team Three wallets that received 2M+ PI each from Pi Foundation 4 have moved a combined 4.5 million PI This massive movement of tokens by the Core Team suggests a potential sell-off or internal reallocation. But when such movements coincide with increased exchange activity, it’s often a bearish signal. Massive Exchange Inflows Point to Selling Pressure Major crypto exchanges are now seeing a surge in PI deposits: OKX: +3.09 million PI Bitget: +1.02 million PI MEXC, Gate.io, and Pionex: Combined increase brings the net inflow to 4.91 million PI This sharp rise in PI balances on centralized exchanges strongly suggests that tokens are being prepared for sale,…
Filed under: News - @ June 20, 2025 9:29 am