6 Million Pi Coins Vanish in 48 Hours – Is a $0.66 Pump Incoming or a $0.50 Crash Looming?

Pi Network is back in the spotlight, but not for reasons most investors would hope. Crypto analyst Dr Altcoin has warned of potential price swings following suspicious activity on Banxa, a platform that recently integrated Pi trading. The concern? A large number of new accounts have been created, each holding exactly 0.98 Pi Coin. While that might seem like a small detail, he believes it could be a sign of manipulation or coordinated activity that might affect the Pi price. At the same time, whale activity has surged, pulling millions of Pi Coins off exchanges, adding more fuel to the speculation fire.

Expert Flags Suspicious Banxa Activity Tied to Pi Coin Volatility

Pi Network may soon see turbulence, according to Dr Altcoin, a pseudonymous crypto analyst closely watching the market. He recently highlighted the creation of several new Banxa accounts, each funded with exactly 0.98 Pi Coin, roughly $0.61. While that may sound minor, the pattern is raising red flags about potential manipulation or wash trading.

These types of small, repeated transactions can artificially create trading volume or selling pressure, especially if carried out in a coordinated manner. Dr Altcoin suspects this tactic could trigger short-term Pi price fluctuations, possibly drawing in unsuspecting retail investors.

Adding to the mix, whales appear to be making their move. Over 6 million Pi Coins have been withdrawn from exchanges in less than two days, a sharp shift suggesting accumulation. If both events are related, some fear it could be the early signs of a pump-and-dump cycle. Despite the concerns, Pi price currently holds near $0.61 and shows no dramatic movements.

Pi Network Price Actions on April 18

The trading day of April 17th started with a moderate trading range for Pi Network, as per the Pi/USDT 5-minute chart. The price saw a gradual dip early on, triggered by an oversold RSI reading at 07:50 UTC, which pulled the price down to a support level of $0.6009. Momentum shifted midday when a golden cross appeared on the MACD at 15:35 UTC, coinciding with an overbought RSI signal. This pushed Pi to test resistance at $0.6349. However, this bullish move was short-lived. The MACD soon displayed a death cross, prompting another sell-off. By 19:30 UTC, the price retraced again, influenced by oversold RSI conditions.

PI/USDT Chart, analyzed by ShwetaCW, published on TradingView, April 18, 2025

As April 17th closed and the market moved into April 18th, the price saw another brief spike under overbought conditions but failed to break out of the established range. Despite small fluctuations, no clear breakout was confirmed in either direction. According to Pi Network price prediction, if bullish momentum starts, the price could break the resistance of $0.6349 and aim for $0.6600. Alternatively, if bearish momentum picks up, the price could slide below the $0.6009 support and revisit the $0.5000 level.

What’s Next for Pi Coin?

With rising whale activity and concerns over coordinated Banxa transactions, Pi Network enters a period of uncertainty. While the Pi price currently sits around $0.60, any major shift could trigger sharp moves. According to our Pi price prediction, if momentum builds, Pi coin could test the $0.66 level soon but without it, a drop toward $0.50 remains possible.