It's clear that "whales" (large investors with millions of coins) are now dominating the Pi Network market. From the research results, these moves are making the smaller players "victims" and the manipulation is clear. Let's break it down from the beginning:
### 🚨 1. **What happened? The huge movements of the whales**
- **Huge amounts**: Whales withdrew more than **41 million Pi** from exchanges in just 48 hours! That's worth around **27 million dollars**.
- **OTC trades**: A large portion of the trades took place "over the counter" (OTC), meaning direct transfers between private wallets, which causes the price to fluctuate wildly (like what happened on June 9 when the price suddenly dropped 1.5%).
- **Aggregation Effect**: When whales withdraw these quantities, there's a **supply shortage** on the exchanges, which puts upward pressure on the price. Ultimately, they're the ones who profit when they sell after the price spike.
### 📉 2. **Who is the "victim"? The small investor who loses**
- **Crazy fluctuations**: The average user faces sudden price collapses of up to **40% within a month** (like what happened in May-June 2025), which causes their money to evaporate.
- **Crisis of trust**: Many people complained that their tokens were lost from the wallet after completing the KYC process, and the development team didn't provide a clear response, which increased suspicions.
- **Anxious Price**: Pi has become more dependent on whale rumors than its actual value. The price today (June 15) is around **$0.64**, which is significantly lower than its historical price (which was $3).
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### 💰 3. **Who is the "winner"? The whales who play the timing card**
- **Buy and Hold**: Whales buy in huge quantities during the drop (like what happened in April when they bought 48 million Pi at a price of $0.63).
- **Wait for Pi2Day**: Around June 28 (Pi Day), whales are pushing for a price increase before any big announcement, which makes them earn huge profits if the project releases positive news.
- **Exploiting the trend**: There is a hope that Pi will reach **$5**, which will make whales profit more than **700%** of their investments if it happens.
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### ⚖️ 4. **The real problem: the ambiguity of Pi itself**
- **Strange Pricing Model**: Pi has a “dual pricing”; a market price ($0.64) and an illusory price called **GCV” worth $314,159 per coin!** This has even made analysts feel that there is a “fog game” going on.
- **Listing Delay**: Pi is not yet listed on major exchanges (like Binance or Coinbase), which makes the market easy to manipulate in OTC transactions.
- **An Unfulfilled Promise**: The team promised to launch the "Mainnet" a long time ago, but the delay always increases doubts and keeps whales searching in the dark.
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### 🎲 5. **What's next? Scenarios between explosion and collapse**
- **If the whales won**:
- If Pi2Day's announcements on June 28th are strong (such as a listing on a major stock exchange or the launch of new apps like Fruity Pi), the price could reach $1-$5 in a few days.
- **Profit**: The whales will make millions, and the small investor will recover part of his losses.
- **If the whales lost**:
- If the ads were "empty," trust would collapse, and the price could reach $0.51, especially since 1.5 billion coins will be released into the market over the next year.
- **Loss**: The small ones will bear the collapse, and the whales may escape with a small profit.
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### 🧩 **Conclusion: Hope is ahead... but the victim is here now!**
Current status of Pi Network as a "gambling table":
- **Whales**: Professional players looking for an opportunity in the obscurity of the project.
- **The Little Ones**: Victims of the fluctuations and unfulfilled promises of the development team.
- **The Future**: There's hope that upcoming announcements will change the game, but if the exploitation continues, Pi could remain just a "cautionary tale" in the crypto world.
> “Faith never dies” — that’s what people in the Pi community believe, but in the end, **time will decide between the whales and the victim**.
