The Pi Coin had a boring day yesterday as the price barely moved. It stayed in the $0.64 – $0.68 range, level we identified in our price prediction piece as major local support and resistance levels.
One of the most popular crypto YouTubers ‘African Giant’ posted a viral video about Pi Network yesterday in which he explained how the team actually helped the Pi Coin price.
What you'll learn 👉
The Strategic Buyback That Rescued Pi Coin
The price reached $0.67 before settling at around $0.65, with its market cap hitting $4.5 billion. Most notably, the 24-hour trading volume surged by 116%, reaching $157 million. These numbers pointed to unusual activity happening behind the scenes.
What actually occurred was a major buyback operation by the Pi Network team. In the crypto world, a buyback happens when a project team purchases their own coins from exchanges to reduce selling pressure and support the price. In this case, Pi Network bought back approximately 46 million Pi coins from OKX exchange and moved them to a separate wallet controlled by the Pi Core Team.
This action effectively removed a significant number of coins from circulation, leading to price stabilization at a critical moment for the project.
Why Pi Network Needed to Act
The buyback appeared to be a response to increased selling pressure. With many users mining Pi coins and the second wave of migration to the mainnet ongoing, newly migrated coins were flooding exchanges. This increased supply would naturally drive prices down if left unchecked.
Pi Network’s solution was to buy back these coins to reduce selling pressure and prevent a potential price collapse during this influx of new supply.
The buyback wasn’t officially announced, leading to initial rumors and speculation. However, investigators like Dr. Altcoin traced the transactions and discovered that the Pi Core Team had created a wallet called “Pi Foundation 2” approximately two months ago. This wallet started with just 1 Pi coin but quickly accumulated millions, mostly from OKX exchange. At the time of the video, the wallet held around 48 million Pi coins valued at around $31 million.
Community Response and Future Outlook
The YouTuber shared his personal journey with Pi, mentioning he had bought coins at various price points like $0.40, $0.60, and $0.62, and had mined 900 Pi coins in two months. He admitted feeling frustrated when prices were falling and was unhappy with the Pi Core Team’s lack of communication. Now that he’s in profit, his outlook has changed considerably.
The community has mixed reactions to these developments. Some are encouraged that the team is finally taking action, viewing Pi as a long-term project worth waiting for. Others remain skeptical, feeling disrespected by the team’s previous lack of communication and tired of waiting.
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
While the short-term goal for many Pi investors is to reach $1 per coin, the community dream target sits at $10. However, the YouTuber acknowledges that while buybacks are effective temporarily, they aren’t a sustainable long-term strategy. For lasting success, Pi needs more exchange listings, greater public adoption, and natural buyers rather than just relying on the team to support the price.
For anyone considering investing in Pi, the advice remains to use money you don’t urgently need and treat it as a long-term hold. Despite early frustrations, there may be real potential if the team continues taking positive actions to stabilize and grow the ecosystem. The key takeaway is that Pi Network appears to be seriously protecting their coin’s value.
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