Pi News: Analysts alarmed about the transparency of the Pi network after the collapse of Mantra

The crypto world is still reeling from the collapse of Mantra, which wiped out more than $5.5 billion in market value in less than an hour. Now, all eyes are on Pi Network, as analysts warn Pi Core Team should prioritize transparency and strong safeguards, or risk a similar disaster when moving to the Open Mainnet phase. Mantra’s collapse sparks urgent call for Pi reform OM’s price plummeted more than 90% in just one day, shocking the entire industry and raising fears that other projects, especially those in critical stages of development like Pi Network, could be next. Cryptocurrency analyst Dr Altcoin did not hesitate in his tweet, saying, “The OM incident is a wake-up call for the entire crypto industry, proof that stricter regulations are urgently needed. This is also a big lesson for the Pi Core Team as we transition from Open Network to Open Mainnet.”

Dr. Altcoin emphasized, stating that, “One thing is clear about PCTs: they are not transparent,” and called for immediate improvements in communication, token mechanisms, and Know Your Business processes (KYB). Delays in KYB approval and an unclear token locking mechanism have forced some Pi ecosystem projects to look for alternatives, eroding community trust. Pi community divided as volatile prices are emerging Despite the criticism, Pi Network supporters emphasize the slow token issuance, growing utility, and huge user base, reportedly close to 60 million, as reasons why it was able to avoid the fate of OM “The first (35 million large community phong), stable unlocking, increasing utility (tên .pi domain, clean dapp) and achievements,” a Pi Open Mainnet account posted. The team’s recent integration with Chainlink and new fiat pipelines creates a “healthy cycle” of adoption and utility. However, concerns remain. Technical analysts warn that the Pi price, which is currently hovering around $0.74, is facing stiff resistance and could be prone to a sharp pullback if transparency and security are not improved. As the Pi Network enters its most public phase, the industry is watching closely to see if it can avoid the pitfalls that caused OM to collapse. Given the concerns surrounding Pi, its price action in the coming days will be crucial. Let’s take a look at the latest Pi price performance to see how it has withstood market scrutiny Pi price analysis: Pi plummeted by 14%! The market is shocked! Pi price has been consolidating around the $0.74 mark for quite some time. The past 24 hours show a similar picture. Yesterday, Pi started trading at $0.7337. Pi has been on an upward trend since the previous day. This uptrend continued until Pi encountered strict resistance at $0.7588. Pi continued to test the resistance over the next few hours, but was unable to break through. At 13:00 UTC, Pi finally faced a downtrend and established support at $0.7306

Any positive movement from that point ends with a rejection at the price of $0.7481. A narrow trading range formed, as Pi fluctuated between the $0.7481 resistance level and the $0.7306 support level. Since yesterday afternoon, Pi price action has been limited to this range. This morning, Pi was able to reduce this range to 0.74 and above, but at 9:50 UTC, a large death cross formed on the MACD indicator. This caused Pi to jump off the cliff and plunge to $0.6327. Since then, Pi has faced a sharp correction, rising rapidly. The current Pi price is $0.6825 Pi Price Prediction: Can Pi fully Recover from a Crash? Pi’s latest drop on the chart has shocked investors. The sharp fall caused the RSI to reach large overbought levels. The correction has occurred and Pi will try to consolidate around the $0.7 mark today. If the bearish action continues, $0.66 will be the key level to hold.