Pi Network’s token experienced volatile price swings, briefly touching $0.20 before falling to around $0.18. Ripple’s XRP declined by 4% as whale activity indicated potential further selling pressure. Meanwhile, an anonymous trader made millions by selling a portion of a massive Shiba Inu position originally purchased for under $14,000.
The price of Pi Network‘s native token was volatile this week. It briefly reached $0.20 on April 29 before declining by double digits to around $0.17 the next day.
The price movement occurred amid community updates, including the migration to protocol 22. The project also announced that over 526 million validation tasks had been completed by one million verified individuals.
Analyst JAVON MARKS argued the token showed a “clear breakout and retest of a resisting trend.” They forecasted that PI might explode by 1,400% to around $2.80. The token has since rebounded slightly to approximately $0.18.
Ripple‘s XRP also saw heightened volatility, with its price hovering near $1.37. This represents a weekly decline of 4%.
Analyst Ali Martinez revealed that whales sold 1.1 billion XRP in seven days. This reduced their total holdings to less than 7.9 billion tokens.
An anonymous trader sold 800 billion SHIB tokens for nearly $5 million. The trader originally spent less than $14,000 to acquire over 103 trillion SHIB.
The same entity previously sold 4.06 trillion SHIB for approximately $37.6 million. The trader’s total profit, including unrealized gains, exceeds $660 million on the initial investment.
The sell-off coincides with several concerning factors for SHIB. These include a price decline over recent months and stalled activity on Shibarium.
The burn rate has also reduced while the number of tokens on centralized platforms has increased. This hints that the pullback may intensify in the near future.
