Pi Coin is facing growing skepticism from the crypto community, with analysts predicting further downside into August. Once hailed as a promising ecosystem, Pi is now under scrutiny due to what experts call a troubling lack of transparency and increasing insider activity. As a result, Pi Coin has plummeted by 60% from its May peak and could see a further 40% decline in the coming months.
🔻 Pi Coin Price: From Hype to Hazard?
Currently trading at $0.6800, Pi Coin has reached its lowest level since May 17. According to renowned crypto analyst Dr. Altcoin, the token could slide even further potentially down to $0.40 by August. That projection would mark a 40% drop from its current level.
In a viral post on X (formerly Twitter), Dr. Altcoin who boasts over 46,000 followers — sounded the alarm:
“No investor wants to put money into something where the founders refuse to be transparent.”
His criticism is squarely aimed at the Pi Core Team, led by Nicolas Kokkalis and Chengdiao Fan, for allegedly failing to provide clear details about tokenomics, insider sales, and centralization risks.
🕵️ Centralization & Insider Sales Raise Red Flags
Dr. Altcoin’s shift from Pi Network advocate to critic isn’t isolated. Other analysts have also raised concerns about the centralized control of Pi, noting that the Pi Foundation controls over 90 billion tokens across 2,000+ wallets a setup that’s vulnerable to a single point of failure.
The opaque structure may be a key reason why top exchanges like Binance and Coinbase have yet to list Pi, despite its wide community following. Additionally, the steady unlocking of tokens continues to flood the market, with 272 million Pi coins set to unlock in June alone, and 1.53 billion more over the next year a troubling sign amid weak demand.
📉 Technical Analysis Hints at Deeper Crash
On the technical front, Pi Coin saw a dramatic rally to $1.66 earlier in May on speculative hype around an exchange listing. That surge, however, quickly reversed as the much-anticipated Pi Network Ventures launch failed to live up to expectations.
Since then, the token has fallen below the 50-period moving average on the 8-hour chart and is now hovering near critical support at $0.6606. A breakdown below this level could open the door to a drop toward the all-time low of $0.40.
⚠️ Outlook: Bearish Until Proven Otherwise
With major supply pressure, lack of exchange support, and rising investor distrust, Pi Coin's short-term outlook remains bearish. Unless the Pi Core Team addresses transparency concerns and decentralizes control, the token could continue to bleed.
Bottom Line: Pi Coin is at a crossroads. Without meaningful changes in governance and clearer communication from its team, analysts warn that the project risks losing investor confidence and with it, significant market value.