Pi Coin Price Unshaken by Scam Shock — Strong Support or Delayed Reaction?
Despite a major scam impacting Pi Network, Pi Coin's price has remained stable, raising questions about genuine support or a delayed market reaction.Summary
Pi Coin (PI) is currently trading near $0.203, showing a slight increase despite a recent scam that drained over 4.4 million PI from the network's payment request feature. This resilience is unusual, as such security breaches typically trigger panic selling. The analysis suggests a conflict between technical indicators: the Money Flow Index (MFI) indicates cooling dip buying, while the Chaikin Money Flow (CMF) suggests continued accumulation by larger investors. Pi Coin has been trading within a bearish channel since October, and the lower trendline currently acts as support. A break below $0.195 could lead to further declines, while reclaiming $0.217 would signal strengthening support. The market's current stability may be a temporary delay before a more significant reaction to the scam, depending on whether the supporting indicators hold or weaken.
(Source：BeInCrypto)