A few days ago, #pi mentioned at 0.65 that the whale specified this operation. Just a minute ago, it dropped a full 8 points and then quickly surged. There has been no volume for the past two days, with daily trading volume around 15 million U, which is nearly 100 times less compared to the peak of 1 billion U, yet it still experienced a significant drop. The whale is doing this intentionally, cutting retail investors in various ways. The current market cap of pi is shown as 4 billion U, compared to the 700 million U of core, which is six times that. Based on the user traffic foundation of pi and its current technology and ecosystem, which are completely not open, this market cap is clearly overvalued. Its true value should be around 2 billion. Considering this price level, the final lowest point of pi should be around 0.3. It recently fell to around 0.6 and stopped dropping, creating a false impression of a bottom. Many retail investors are also going long at this position, with a long to short ratio of 64:36. In the past two days, there has been a rapid drop with no volume, as the whale intentionally smashed the market to liquidate longs. With the start of the Toronto conference, after the longs are finished, there will be a big surge.