🚨 #PiNetwork Crashes to Record Low After Controversial Announcement 🚨
PI/USDT Breaks All Key Support Levels — Bearish Trend Intensifies
The Pi Network token ($PI) has plunged to its lowest price ever, slipping below every major support line since launch. On the weekly chart, PI is trapped beneath a strong descending trendline and remains under all key Fibonacci resistance levels. As of now, it’s barely holding above $0.40, with intense selling pressure threatening a deeper drop — especially if overall altcoin strength continues to fade.
This week’s price candle extends a long-term downtrend that began back in March. Despite a few temporary spikes, the broader trend has stayed firmly bearish, leading to a continued erosion of price with each bounce.
🔻 What triggered this latest crash?
Just days ago, the Pi Network team released a new announcement encouraging users — known as Pioneers — to lock up to 200% of their migrated PI in exchange for increased mining rewards. The official blog post (dated August 1) outlined the lock-up mechanism, available through the Pi App and Pi Browser.
But rather than boosting confidence, the move has raised more concerns.
⚠️ Why it’s not helping:
Many users are still frustrated by ongoing migration delays
Token liquidity remains extremely limited, making real-world use difficult
Asking users to lock tokens without resolving basic trading access feels more like a burden than a benefit
📉 Unless new support or utility emerges, $PI’s outlook remains bleak.
