How Pi Network Quietly Saved Pi Coin from Collapse

The Pi Coin, a cryptocurrency developed by the Pi Network, experienced a notably static trading session yesterday, remaining confined within the $0.64 to $0.68 range. This trading corridor, previously identified in analytical forecasts as a major support and resistance zone, underlines the coin’s continued struggle for momentum amidst broader market volatility.

However, beneath the surface of this seemingly uneventful market behaviour, significant strategic manoeuvres were taking place. A viral video posted by prominent cryptocurrency YouTuber "African Giant" has shed light on major developments involving the Pi Network’s internal operations, which may have had a direct impact on price stability.

Pi Network's Strategic Buyback: A Crucial Intervention

In the video, African Giant detailed a strategic buyback initiative undertaken by the Pi Core Team. The buyback reportedly played a pivotal role in halting a potential downward spiral for Pi Coin at a critical juncture. During the session, the price briefly peaked at $0.67 before settling at approximately $0.65. The coin’s market capitalisation was recorded at around $4.5 billion, and notably, the 24-hour trading volume surged by an impressive 116% to reach $157 million.

These figures indicated unusual activity and suggested that significant measures were being taken to influence market dynamics.

According to the YouTuber's findings, Pi Network’s Core Team executed a substantial buyback operation, acquiring approximately 46 million Pi Coins from the OKX exchange. The purchased coins were transferred to a new wallet under the Core Team’s direct control, effectively removing a large quantity of tokens from the market and alleviating downward pressure on the price.

This kind of intervention is not unprecedented within the cryptocurrency sector. Buybacks are often used as a defensive measure by project teams seeking to protect the value of their digital assets, particularly during periods of heightened volatility or external selling pressure.

The Rationale Behind the Buyback

The timing of the buyback was particularly significant. It coincided with a second wave of Pi Mainnet migrations, during which large numbers of freshly mined Pi coins were being transferred to the open market. As many users completed the migration of their tokens from the testnet to the mainnet, the sudden influx of supply created considerable selling pressure.

Without intervention, this dynamic would have likely led to a sharp decline in Pi Coin’s value. The Pi Network team’s decision to buy back tokens served to absorb much of this excess supply, thus averting a possible market collapse.

Interestingly, the buyback was not formally announced by the Pi Core Team, leading to widespread speculation and rumours within the community. Independent blockchain investigators, including a figure known as Dr. Altcoin, later traced the relevant transactions. They discovered that the Core Team had quietly established a wallet, labelled "Pi Foundation 2," approximately two months ago.

Initially containing only a single Pi Coin, the wallet rapidly accumulated tens of millions of coins, mostly sourced from OKX exchange transactions. As of the time of African Giant’s video, the wallet held an estimated 48 million Pi Coins, valued at around $31 million.

Community Reaction: Mixed Sentiments Persist

The disclosure of the buyback has elicited a variety of responses within the Pi Network community.

African Giant, reflecting on his own journey with Pi Coin, expressed a nuanced perspective. Having invested at various price points – including $0.40, $0.60, and $0.62 – and mined approximately 900 Pi Coins over a two-month period, he acknowledged feelings of frustration over the Core Team’s historical lack of communication. The recent buyback, however, has significantly altered his outlook, shifting him from scepticism to cautious optimism.

Among the wider community, reactions have been mixed. Some users have welcomed the Core Team’s intervention as a much-needed sign of active management and long-term commitment to the project’s success. They argue that such measures demonstrate that Pi Network is not abandoning its user base and is taking steps to protect investor interests during critical moments.

Others, however, remain wary. Long-time supporters have voiced concerns about the Core Team’s past reticence, feeling that better transparency and communication could have prevented much of the anxiety and distrust that has developed over time.

Nonetheless, the buyback has provided short-term reassurance for many investors, stabilising the price and renewing hope that Pi Network is positioning itself for future growth.

Challenges and the Road Ahead

Despite the positive impact of the buyback operation, African Giant and other analysts caution against viewing such measures as a panacea for Pi Coin’s longer-term challenges.

Buybacks can offer temporary price support, but they are not a sustainable solution in isolation. For Pi Network to achieve enduring success, it must focus on broader ecosystem development, including securing additional exchange listings, enhancing real-world adoption, and fostering organic demand for Pi Coin.

The aspiration among many Pi enthusiasts remains to see the coin reach a value of $1, with a more ambitious long-term target of $10. Achieving these goals will require concerted efforts beyond financial engineering – it will depend on building genuine utility for the coin, cultivating a vibrant user community, and integrating Pi Coin into real-world economic activities.

Another critical issue for Pi Network is its reputation management. Many users have expressed dissatisfaction with the prolonged waiting periods and the perceived lack of transparency around project milestones. If the Core Team hopes to maintain and grow its base of loyal supporters, clear communication and consistent delivery of promised features will be essential.

Investor Advice: Caution and Patience Recommended

For prospective investors and current holders alike, the prevailing advice is to exercise caution and to view Pi Coin as a long-term investment rather than a quick-profit opportunity.

Given the inherent volatility of cryptocurrencies and the unique developmental path of Pi Network – including its prolonged mainnet migration phase and relatively limited exchange accessibility – it remains a high-risk, high-reward proposition.

Potential investors are urged to allocate only discretionary funds that they can afford to lose and to maintain a long-term perspective. While the recent buyback operation offers grounds for cautious optimism, the project’s ultimate success will hinge on fundamentals, not short-term interventions.

Conclusion: A Critical Turning Point for Pi Network

The Pi Network’s strategic buyback marks a significant moment in the project’s ongoing evolution. It demonstrates a newfound willingness by the Core Team to take decisive action in defence of its cryptocurrency’s value, providing a lifeline at a potentially perilous time.

Yet much work remains. Sustained success will require a holistic strategy encompassing transparency, community engagement, adoption initiatives, and ecosystem development. If Pi Network can deliver on these fronts, it may well transform recent scepticism into long-term investor confidence.

Pi is approaching the 200 moving average on the 4 hour candle chart ! We'll see big movements around it. Be prepared! #PiNetwork pic.twitter.com/mcmGnJRyrt

— Jatin Gupta (@jatingupta0003) April 26, 2025

For now, the project stands at a crossroads – buoyed by a timely intervention, but facing critical tests in the months and years ahead.

Disclaimer

All articles published on SMJNews are intended solely for informational and educational purposes regarding developments in technology, blockchain, and digital assets, particularly Pi Network. SMJNews does not promote, encourage, or recommend the purchase of any coin or form of investment.

Any investment decisions made based on the content found on this website are entirely the responsibility of the reader. We strongly advise conducting independent research and consulting with a financial advisor before making any financial decisions.

SMJNews is not liable for any losses—financial or otherwise—that may arise from actions taken based on the information provided on this site.

Thank you for being a part of the SMJNews reader community. Stay informed, stay critical, and stay connected.