{"id":20396,"date":"2025-04-03T12:01:46","date_gmt":"2025-04-03T12:01:46","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20396"},"modified":"2025-04-03T12:01:46","modified_gmt":"2025-04-03T12:01:46","slug":"pi-network-is-a-slow-rug-says-former-pi-proponent","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20396","title":{"rendered":"Pi Network Is a Slow Rug, Says Former PI Proponent"},"content":{"rendered":"<div>\n<p><strong>TL;DR<\/strong><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">PI\u2019s 65% price crash over the past month has shifted sentiment, with even former fans now lambasting the project.<\/span><\/li>\n<li>Hopes for a recovery rest on potential exchange listings from Binance or Coinbase.<\/li>\n<\/ul>\n<h2><span data-preserver-spaces=\"true\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/04\/PI_CB-8.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-390642\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/04\/PI_CB-8.jpg\" alt=\"\" width=\"1201\" height=\"720\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/04\/PI_CB-8.jpg 1201w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/04\/PI_CB-8-300x180.jpg 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/04\/PI_CB-8-1024x614.jpg 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/04\/PI_CB-8-768x460.jpg 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/04\/PI_CB-8-50x30.jpg 50w\" sizes=\"auto, (max-width: 1201px) 100vw, 1201px\"><\/a><\/span><\/h2>\n<h2>From a Supporter to a Critic<\/h2>\n<p><span data-preserver-spaces=\"true\">Pi Network\u2019s native token witnessed another correction in the past 24 hours, with its price tanking by 7%. <\/span><span data-preserver-spaces=\"true\">Currently,<\/span><span data-preserver-spaces=\"true\"> it trades at around $0.63 (per CoinGecko\u2019s data), representing a whopping 65% decline in the last month.<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Its massive retreat as of late <\/span><span data-preserver-spaces=\"true\">seems to have<\/span><span data-preserver-spaces=\"true\"> changed the sentiment of even its hardcore fans.<\/span><span data-preserver-spaces=\"true\"> The X user MOON JEFF, who recently <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/pi-networks-pi-hits-monthly-low-breakdown-or-breakout-coming\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">predicted<\/span><\/a><span data-preserver-spaces=\"true\"> that PI could skyrocket to an all-time high of $5, joined the critics\u2019 corner. The analyst <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/CRYPTOAD00\/status\/1907579196060180822\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">claimed<\/span><\/a><span data-preserver-spaces=\"true\"> that Pi Network is \u201cnow a slow rug,\u201d criticizing the team behind the project:<\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\">\u201cThe team is not delivering what they promised. They promised 100 Dapps on launch, but <\/span><span data-preserver-spaces=\"true\">only<\/span><span data-preserver-spaces=\"true\"> less than<\/span><span data-preserver-spaces=\"true\"> 5 <\/span><span data-preserver-spaces=\"true\">are working.\u201d<\/span><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">According to MOON JEFF, PI\u2019s potential spike to $1 is \u201cjust a dream,\u201d while breaking above <\/span><span data-preserver-spaces=\"true\">that point<\/span><span data-preserver-spaces=\"true\"> is \u201cjust another dream.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Besides lambasting the project, the analyst <a href=\"https:\/\/x.com\/CRYPTOAD00\/status\/1907678562762498058\" data-wpel-link=\"external\" target=\"_blank\">noted<\/a> that the coin\u2019s daily unlocks \u201care back in millions.\u201d<\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\">\u201cThe daily unlocks will kill PI. The daily selling pressure is insane.\u201d<\/span><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">Earlier this week, Watch<\/span><span data-preserver-spaces=\"true\">.Guru<\/span> <a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/Whale_Guru\/status\/1906962681174577423\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">revealed<\/span><\/a><span data-preserver-spaces=\"true\"> that <\/span><span data-preserver-spaces=\"true\">more than 121 million PI tokens will be unlocked<\/span><span data-preserver-spaces=\"true\"> in\u00a0<\/span><span data-preserver-spaces=\"true\">the next<\/span><span data-preserver-spaces=\"true\"> 30 days. <\/span><span data-preserver-spaces=\"true\">The increased circulating supply could further negatively influence<\/span><span data-preserver-spaces=\"true\">\u00a0price performance (assuming demand doesn\u2019t react accordingly).<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Currently, the amount of tokens in circulation <\/span><span data-preserver-spaces=\"true\">stands<\/span><span data-preserver-spaces=\"true\"> just below 6.8 billion, meaning that over 90% of the <\/span><span data-preserver-spaces=\"true\">total<\/span><span data-preserver-spaces=\"true\"> designated supply has yet to enter the market.<\/span><span data-preserver-spaces=\"true\"> The de facto circulating supply constitutes locked mining rewards and unlocked mining rewards. The latest data <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/blockexplorer.minepi.com\/mainnet\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">shows<\/span><\/a><span data-preserver-spaces=\"true\"> that almost 75% of the tokens remain locked, raising uncertainty about how the price will react once this amount frees up.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">What Can Stop the Freefall?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">One <\/span><span data-preserver-spaces=\"true\">important<\/span><span data-preserver-spaces=\"true\"> factor that may prevent PI\u2019s price from further collapsing and even put the asset on the green track again is support from leading cryptocurrency exchanges. Such a development will increase the token\u2019s liquidity, boost its accessibility, and positively impact<\/span><span data-preserver-spaces=\"true\">\u00a0its reputation.<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Binance <a href=\"https:\/\/cryptopotato.com\/binance-listing-pi-token-soon-community-has-the-final-say\/\" data-wpel-link=\"internal\">issued<\/a> a vote in February to determine whether its users wish to see PI trading on the platform. More than 86% of the voters clicked the \u201cyes\u201d option, but the company remains silent <\/span><span data-preserver-spaces=\"true\">on the matter<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Coinbase <\/span><span data-preserver-spaces=\"true\">was also rumored<\/span><span data-preserver-spaces=\"true\"> to embrace PI. Paul Grewal (the company\u2019s chief legal officer) <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/iampaulgrewal\/status\/1900608349898764702\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">triggered<\/span><\/a><span data-preserver-spaces=\"true\"> enthusiasm across the Pi Network community in mid-March when saying:<\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\">\u201cWe take PiDay at Coinbase very seriously.\u201d<\/span><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">Despite the interaction, there hasn\u2019t been a follow-up, and the asset remains unavailable on the US-based cryptocurrency exchange.\u00a0<\/span><\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/pi-network-is-a-slow-rug-says-former-pi-proponent\/\" rel=\"nofollow\">Pi Network Is a Slow Rug, Says Former PI Proponent<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR PI\u2019s 65% price crash over the past month has shifted sentiment, with even former fans now lambasting the project. Hopes for a recovery rest on potential exchange listings from Binance or Coinbase. From a Supporter to a Critic Pi Network\u2019s native token witnessed another correction in the past 24 hours, with its price tanking [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-20396","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20396"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20396\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}