Pi Coin Price Decreases 80% Since Launch in February When Founders Hold 13 Billion USD Token

The Pi coin has attracted a lot of attention since its mainnet launch in February. However, as the excitement and hype have subsided, the price of Pi has also been heavily affected. As a result, the value of this token has fallen nearly 80% from its all-time high in February. Adding to this decline is the community's concern about the lack of decentralization and the concentration of the remaining tokens. Currently, the developers of the Pi project hold some of the remaining tokens, which could make them billionaires. The community's sentiment has worsened as the price of the Pi token performed poorly during the recent bullish phase. Who really controls the majority of the current Pi Holdings? According to a recent report, there are nearly 100 billion Pi tokens in the maximum supply. Of this supply, only 65 billion Pi have been distributed to community members and Pioneers. Among the remaining tokens, nearly 10 billion are allocated to the Pi Network Fund and its activities. Almost 20 billion tokens are also under the control of the core Pi team, including the founders of the Pi network, Kokkalis and Fan. It is estimated that these twenty billion tokens are worth nearly 13.2 billion dollars as of now. With the current holding amount of the Pi group at 13.2 billion dollars, we can see that they are billionaires. Each person currently has 6.6 billion dollars just from the amount held in Pi. The parent company of the Pi network, SocialChain, is said to have 40 employees. However, there have been no reports indicating that any members of the group other than Kokkalis and Fan will benefit from the allocation of 20 billion dollars. As mentioned earlier, the Pi Network Foundation also holds 10 billion Pi. This amount, at the current Pi price, is approximately 6.6 billion dollars. The structure of this fund has yet to be clarified, but the founders of Pi are likely to also control the amount held in this sector. How many Pi will be unlocked each month until 2028? Kokkalis and Fan can also distribute their Pi coin reserves from 65 billion to users. However, access to these community funds is not possible as they are locked and will be unlocked according to a schedule. The current unlocking plan is to release more than 131.2 million coins each month until May 2028. Based on the current price of Pi, this amount is equivalent to approximately 87 million dollars in monthly releases. These token releases have raised some concerns among community members, who believe it will push the price down even further. Is the price of Pi Network currently stuck in a consolidation phase? In today's price movement of the Pi network, we can see that although the market has been bullish recently, this cryptocurrency continues to consolidate. Price volatility is recorded around the $0.65 level, which also marks a strong support level. After the previous bullish run to nearly $0.75, the Pi token has fallen sharply. However, the fall has slowed down within the support range of $0.60 and $0.65. This now leads to a period of hesitation in the market, where neither buyers nor sellers dominate the price movement.

According to the daily chart of PI/USDT, the Relative Strength Index has fallen below the neutral threshold of 50. Currently, this index is near the point of 46, indicating a slight bearish trend. It can also be observed that the RSI is crossing below the RSI moving average, which is a bearish sign. Even at high levels of the RSI, bearish crossovers can sometimes be seen, indicating bearish movement. The ADX index stands near point 24, signaling that the trend is about to end, as strength below point 25 is considered weak. Is the Pi Network too centralized to be trusted? The Pi Network is rapidly developing and with this development, the net worth of the founders is also increasing. However, this is not a new concept in the cryptocurrency world, as even founders who have left the company still receive benefits. Many executives and founders in the cryptocurrency market have also become billionaires thanks to their tokens. Despite these facts, the centralized nature of Pi reserves remains a concerning issue.