A recent surge in Pi Coin purchases by a PCT-linked sub-wallet has caught the attention of cryptocurrency experts. The wallet has purchased 48.5 million Pi Coins worth $31 million from centralized exchanges in an effort to stabilize the Pi Network price. This move comes after concerns of a price crash following the Pi unlock event, and experts believe that buying Pi Coins from exchanges is a better short-term strategy than burning tokens.
The Pi Network price has shown resilience, currently trading above $0.6 and experiencing a 6% increase over the last day. Daily trading volume has also surged, reaching $116.4 million, indicating positive market sentiment. However, there are still concerns about a potential price drop if the PCT is unable to sustain its purchasing spree. The community is eagerly awaiting the PCT’s next move to see if they can continue stabilizing the price or if long-term plans are in place.
As investors closely monitor the situation, there are fears of wild volatility in the near future due to shady activity on Banxa. Many are turning to the PCT for reassurance and stability in the market. With reports of whales moving large amounts of Pi Coins from exchanges, there is a growing anticipation for the coin to reach $5. However, the sustainability of the PCT’s purchasing strategy remains a crucial factor in determining the future price of the Pi Network.
Despite the positive signs in the market, the million-dollar question remains: can the PCT afford to keep purchasing Pi Coins from centralized exchanges to stabilize the price in the long run? If the PCT is unable to sustain its buying spree, experts predict a potential steep price drop to $0.3, causing uncertainty among investors. As the market continues to evolve, investors are paying close attention to the PCT’s actions and decisions to gauge the future trajectory of the Pi Network price. In the meantime, the community remains hopeful for a stable and prosperous future for the Pi Network.
