- The community has weighed in on a wallet-stacking PI Coin, a move that can impact price.
- With the growing adoption of digital currency, a $3 projection is high.
Crypto market expert Dr Altcoin on X has revealed the Pi Network’s strategy to stabilize the price of PI Coin (PI). The popular crypto analyst disclosed that after discovering a sub-wallet buying millions of Pi Coins from centralized exchanges.
Dr Altcoin Unveils Pi Network’s Strategy
The analyst shed light on the wallet that has accumulated a huge amount of Pi Coins. According to Dr Altcoin, the wallet is linked to the Pi Coin Team (PCT) to ensure stability in the price of the underlying asset.
Dr Altcoin revealed that the Pi Coin Team has scooped millions of PI from centralized exchanges through the sub-wallet. Specifically, the sub-wallet, created just two months ago, has accumulated 48.5 million PI, valued at about $31 million.
Some community members disagreed with Dr Altcoin’s claim about the Pi Coin Team’s connection with the sub-wallets. They argued that all wallet creations and migrations come from the Pi Foundation 2 wallet. Hence, they said the sub-wallets show a similar creation pattern to every other wallet.
To counter their argument, Dr Altcoin noted that Piscan.io, which tracks Pi blockchain activity, has labeled wallets owned by the Pi Core Team.
According to the expert, the Pi Coin Team wallets labeled by Piscan include Pi Foundations 1 to 14 and liquidity reserve wallets. Since the sub-wallet in question is the Pi Foundation 2 wallet, the market analyst concluded that PCT is responsible for buying PI Coins from centralized exchanges.
Meanwhile, community members are also worried about reports of a Pi Network price crash following the recent Pi unlock. Allaying investors’ fears, Dr Altcoin noted that the PCT is attempting to buy millions of Pi Coins from exchanges to stabilize the price. The expert sees the token purchase as a better strategy for the Pi Network than burning Pi Coins.
PI Hold Steady at $0.65
The PCT’s short-term strategy of buying PI from centralized exchanges is working. The price of PI has increased by 2.7% in the last 24 hours to trade at $0.656. Daily trading volume is up by 88.86%, settling at $149.8 million.
Enthusiasm for Pi Coin to reach $3 is high, as shown by reports of the Pi Network’s integration with Chainlink. As detailed in our last news piece, Chainlink has integrated PI into the LINK Data Streams, enhancing its utility. Market analysts believe this integration could trigger a parabolic surge for the Pi Network token.
In a previous article, we discussed that market experts have urged investors to hold at least 10,000 PI tokens before the end of 2025. They claim new ecosystem updates and mainstream adoption will make PI more appealing.
This is especially true since various businesses worldwide are now attempting to integrate PI as a means of payment.
Credit: Source link
