🔥 PI Network plummets 68% – Is there a chance of recovery?
💰 Diluted market capitalization: 7.5 billion USD
📉 Decrease over the past 4 weeks: -68%
📊 24h trading volume: 196 million USD
At the time of writing, PI is trading around 0.723 USD, slightly up 2% for the day. However, the downward trend still dominates.
⚠️ Challenges of Pi Network
1️⃣ Rejected for listing on major exchanges
Bybit and many major CEX exchanges have not yet accepted PI, putting significant pressure on liquidity.
2️⃣ Delayed move to mainnet
The Pi team has just announced that they will change the verification system from phone numbers to 2FA via email to enhance security. But this is not enough to drive a strong price increase.
3️⃣ Selling pressure from early users
Pi Network has been operational for over 6 years, with many miners from the early stages selling off, creating significant downward price pressure.
📊 Technical analysis – Can PI bounce back?
🔍 Important support level: 0.72 USD
If this level is maintained, PI could rebound strongly, opening up a new price uptrend.
If this level is lost, the sell-off could push the price down further, potentially to 0.50 USD or lower.
📅 Short-term outlook:
The market is still in a downward trend; without positive news, PI is unlikely to recover immediately.
However, if the team accelerates the mainnet process and lists on major exchanges, the chances of recovery will be higher.
⏳ Do you believe that Pi Network will return soon or will it continue to decline? 💬
#CryptoFlow #PiCoreTeam