Following Mantra’s sudden collapse, analysts have warned Pi Network’s developers that transparency issues could expose Pi to similar risks.
By Parth Dubey
Editor Julia Sakovich
Updated
3 mins read
The brutal crash of Mantra (OM) has sent shockwaves across the crypto world. In the aftermath, pseudonymous crypto analyst Dr Altcoin is urging the Pi Network’s core development team, the PiCoreTeam (PCT), to take heed.
Notably, OM recently plummeted from $6.32 to $0.57, a drop of over 90, triggering a $6 billion market wipeout in just a single day. While the official announcement blames this fall on mass liquidations, suspicions are rising that the drop was an intentional dump.
In a post on X, Dr Altcoin noted the importance of building robust infrastructure and safeguards to prevent Pi Coin from facing a similar collapse.
The $OM incident is a wake-up call for the entire crypto industry—proof that stricter regulations are urgently needed. It also serves as a HUGE lesson for the Pi Core Team as we transition from the Open Network to the Open Mainnet. @PiCoreTeam @nkokkalis @Chengdiao pic.twitter.com/zBN4LSsONN
— Dr Altcoin (@Dr_Picoin) April 14, 2025
Analysts are also raising red flags about the PCT’s lack of transparency, pointing to unclear token-locking mechanisms and repeated delays in approving Know Your Business (KYB) applications.
One such delay forced PiDaoSwap to launch its NFTs on the Binance Chain, affecting community trust in the network’s long-term commitment to its own ecosystem.
Popular crypto podcaster Don Ranalli also noted that public sentiment toward Pi Coin is turning sour. He pointed out that the PI token is facing persistent bearish sentiment.
Random tweets from this X account to keep some semblance of interest for Pi
However, sentiment for this coin continues to be bearish overall as time continues and ppl realize this coin continues to be nothing different and Nik and Fen are clueless or made their money and don’t…
— Don Ranalli (@ranalli_don) April 14, 2025
According to him, the community is realizing that the network is not offering anything fundamentally new to the crypto space.
Meanwhile, PI is trading at around $0.74, continuing to wrestle with a stubborn resistance at $0.75.
Over the past week, the token has surged 27%. Analyst Moon Jeff recently stated that the chart setup looks increasingly promising. He believes a long-term move to $5 is “inevitable”, though it could take weeks or even months to materialize.
$PI chart looks nice.
$5 is inevitable
It might take weeks or even months but eventually we will be there.
The only resistance we have is at $3. #PiNetwork— MOON JEFF 🪐 (@CRYPTOAD00) April 14, 2025
Jeff noted that the token has to fight against the massive resistance at $3 in the near-term.
On the 4-hour PI price chart, the RSI stands at 61, edging close to the overbought zone. This suggests bullish momentum may still have legs, though a reversal is possible if buying pressure wanes.
PI 4-hour chart | Source: Trading View
Bollinger Bands are narrowing, pointing at a consolidation phase. The price is hovering around the middle band, which currently sits at $0.7365.
If bulls manage to push beyond this zone, Pi could retest the upper band at $0.7895. On the other hand, a drop below $0.7365 could lead the token to the lower band at $0.6834.
PI 4-hour chart | Source: Trading View
Meanwhile, the MACD histogram is in the red and the signal line is still above the MACD line, signaling lingering bearish momentum. However, the narrowing gap between them hints at a potential bullish crossover if volume ticks up.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
