Pi Coin fell to a hollow of $ 0.51, marking a drop of 83% since its summit at the end of February. At the time of writing the editorial staff, it is negotiated at $ 0.52, reflecting a strong loss of momentum and investors’ confidence.
The sudden drop in prices has increased red flags in the cryptographic community, with numerous interrogations of the credibility of the PI network. The concerns concerning its centralized structure and its fears of a potential “carpet traction” are surface.
Critics on social networks are vocal. A user, referring to a video from @Sonofatech, labeled Pi Network as an application of data aggregator with questionable practices. They pointed out that 50% of the part of the part is controlled by initiates – at 20% of the development team, 20% pre -marine and 10% at the Foundation, leaving only 45% available for mining.
Another user echoes the feeling, saying: “Another carpet traction. $ Pi certainly goes to zero ”. With credibility problems, insider control and a sharp drop in prices, the future of Pi Coin remains uncertain.
Can PI still reach $ 1?
After its launch in February, PI saw a quick wave, reaching $ 3 a few days after the start of trade. Now the analysis suggests That PI could enter an inversion area. Historically, Pi moves differently from Bitcoin ($ BTC) and Ethereum ($ ETH), and as the two are currently falling, we could soon see Pi bouncing.
With the change of capital, PI could see short-term gains, perhaps targeting $ 1 like the next milestone.