The recent surge of Pi Coin is essentially a bubble inflated by money. The project itself has no real progress, but a bunch of people suddenly driving up the price in the middle of the night created a large bullish candlestick in half an hour, causing the price to shoot up. At this point, the contract rate skyrocketed from negative numbers, clearly indicating that the big players were squeezing shorts, leading to a chain reaction of liquidations for short positions, which in turn prompted more people to chase the rising price, making it crazier. Some people think that this kind of market is an opportunity, but they are actually misled by emotions; they see the surge and believe it's a chance, without realizing that the market has long been controlled, and going against the trend is like catching a flying knife with bare hands. In the end, this kind of market driven purely by funds means you either follow the trend early to get a share or keep your distance and watch the show. Don't get carried away and tussle with the bubble, or you’ll be schooled by the market in no time! $pi
