Crypto specialist Dr. Altcoin has disclosed that the Pi Network team has been actively managing the supply from centralized exchanges (CEX) to aid in stabilizing the price of Pi Coin.
He elaborated on the measures taken by the team, which have contributed to the altcoin maintaining its position above the $0.63 support level, preventing it from declining to new lows after the recent token unlocks.
Expert Discusses Pi Network Team's Efforts to Stabilize Pi Coin Price
In a recent post on X, Dr. Altcoin disclosed that the Pi Network team has enacted a strategy aimed at absorbing the surplus Pi supply entering Centralized Exchanges (CEXs) to stabilize the price of Pi coin.
He noted that this approach has been effective thus far, as evidenced by the price's stabilization.
The expert shared this insight while addressing the reasons why the Pi coin has not fallen to $0.30 or lower, despite the significant volume of unlocked Pi. Instead, the coin has maintained a position above the $0.60 support level.
Dr. Altcoin emphasized that this initiative by the Pi Core Team demonstrates that the project is not merely a transient scheme and that the coin is poised for longevity and leadership.
He acknowledged that both he and the broader Pi community are disheartened by the current price and the ongoing lack of communication from the team.
Nevertheless, he expressed hope that these issues will be addressed promptly. The expert also confirmed that the Pi Network continues to thrive, consistently ranking among the top 30 cryptocurrencies by market capitalization.
He remarked that the recent strategy implemented by the Pi Core Team to manage the influx of Pi is indicative of their long-term vision for the project.
Additionally, the expert highlighted the significance of the upcoming Consensus 2025 conference for the Pi ecosystem, viewing it as a crucial opportunity for the team to promote the project.
Pi Coin Price Expected to Reach $314
In a recent post, Dr. Altcoin expressed his belief that the price of Pi Network could still achieve $314 within the next five years.
He emphasized that his confidence in the project's future has never been stronger than it is at present.
In this context, he encouraged all members of the Pi community to persist in their support for the project and to continue purchasing the altcoin while it remains affordable.
Currently, community members appear to be actively accumulating Pi coins. According to Expert, significant investors, or "whales," have recently transferred over 41 million Pi coins from exchanges, which suggests a positive outlook for the price of Pi Network.
In the near term, cryptocurrency analysts such as Moon Jeff have forecasted that the price of Pi coin could recover to the $1 mark and potentially surge to as high as $5 soon.
A listing on a major cryptocurrency exchange could certainly propel the altcoin to new heights. It has also reported that the HTX exchange has indicated a possible listing for the altcoin.
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