#OnChainInsights Pi Network High and Drastic Drop

The extreme volatility of the PI token has raised questions about the stability and sustainability of the project, worrying investors and market experts. Several factors explain the rapid drop in Pi. The main reason was the mass selling by early miners, who acquired large amounts of the coin at zero cost.

With the launch of the mainnet, these investors had the chance to convert their tokens into real money. The large supply available quickly dropped the price.

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In addition, the invitation-based mining model has generated distrust, raising questions about the long-term sustainability of Pi Network. The crypto community has reacted mixed to the launch of Pi. While some see the drop as a buying opportunity, others remain skeptical about the viability of the project.