Pi Network: The Great Crypto Comedy of 2025! 🎭💸

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In a dazzling display of financial theatrics, the illustrious crypto analyst Atlas has proclaimed Pi Network the grandest rug pull of 2025, following a staggering 12 million-token dump that sent Pi’s price tumbling down by a dramatic 50%. This anonymous sell-off, akin to a magician’s disappearing act, occurred just days after Pi soared to a tantalizing $1.60, fueled by nothing but the sweet nectar of speculation and a sprinkle of hope. 🪄✨

Speculation: The Fuel for Pi Network’s Recent Rally

Our dear onchain analyst, the ever-astute Atlas, has once again donned his detective hat on X, labeling Pi Network as the pièce de résistance of rug pulls in 2025. This dubious honor was bestowed upon it after an anonymous token holder, perhaps a ghost in the crypto machine, dumped 12 million tokens in mere hours, crashing the price by half. The analyst mused that this dramatic dump occurred just days after Pi had gallantly rallied to $1.60 “on pure speculation and hope.” Ah, the irony! 🎢

In a post dated May 19, Atlas claimed that while the unsuspecting users were being tantalized with whispers of a new upgrade, the insiders of Pi Network were busy executing their master plan. To bolster his claims of this rug pull, which he has been championing since late February, Atlas referenced a probe by the illustrious Dr. Picoin, whose findings allegedly linked the token dump to the very core team of Pi Network. Talk about a plot twist! 📉🔍

As previously reported by TopMob, Pi’s meteoric rise in early May briefly catapulted it into the top 20 digital assets by market capitalization. This surge was attributed to the tantalizing rumors of a possible Binance listing and a major announcement set for May 14. Oh, the suspense! 🎉

However, the much-anticipated announcement turned out to be nothing more than the launch of a $100 million investment fund, leading to a swift plunge of over 25% in just 24 hours. This sudden decline ignited a firestorm of allegations from some Pi Network supporters, who accused the core team of orchestrating a grand hype job to inflate the token’s price. The audacity! 😱

One particularly vocal supporter criticized the team’s decision to build hype around a single announcement, warning that such a strategy could backfire spectacularly if it failed to meet the community’s lofty expectations. Since then, Pi Network has faced increasing scrutiny, especially as the token has continued to trade well below its May 12 price of just under $1.60. At 4:45 a.m. EST on May 20, Pi was trading at a mere $0.74, marking a staggering 33% drop in just seven days. Ouch! 📉

Meanwhile, Atlas claimed that an analysis had pinpointed the dumping wallet, allegedly linked to the Pi Network core team. “The wallet in question—GABT7EMP—is reportedly connected to Pi Core ops. Millions of Pi flowed out from this address right near the local top. Piscan shows massive outflows just as the price began its dramatic descent. To many, this looks like a textbook insider exit during peak liquidity,” Atlas quipped. 🎭💰

Although the Pi Network core team has yet to respond to these allegations on X, a pro-Pi Network handle appeared to address some concerns regarding the movement of these massive amounts of Pi tokens. “The Pi Core Team manages numerous wallets for various operational purposes. These wallets are utilized for ecosystem development funding, exchange liquidity provision, strategic partnerships, operational expenses, and community rewards and incentives,” Times of Pi Network wrote in a post on X. Sounds like a well-oiled machine, doesn’t it? 🤔

Meanwhile, Atlas has also dismissed claims that the fund transfers were merely part of a testnet-to-mainnet migration. The analyst argued that if this were indeed the case, it should have been communicated more effectively to dispel any lingering pump-and-dump suspicions. A classic case of miscommunication, perhaps? 🤷‍♂️

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2025-05-21 10:03