PI Coin's Struggles: Can It Recover or Will It Decline Further?$ETH

PI Coin has experienced a sharp downturn, plunging from its peak of $2.2 to just $0.66. Those who mined and sold their holdings between $1.5 and $2 likely capitalized on an optimal exit strategy. The PI Network, which initiated its mining operations in March 2019, took an extensive six years before finally listing its token. However, concerns loom over its recovery potential, particularly due to its staggering total supply of 100 billion PI.$XRP

A major controversy revolves around PI Network’s KYC verification process. The team seemingly restricted KYC approvals for users with substantial holdings, an essential step required for migration to the PI mainnet. Instead, priority was given to users with less than 300 PI, leaving larger holders unable to transfer their assets. This selective approach has led to speculation that the team leveraged project hype to offload their allocations onto unsuspecting retail investors.

Looking ahead, PI Coin’s long-term sustainability remains questionable. Its inflationary tokenomics may further erode its value, potentially pushing its price down even more. If the current trend persists, PI could shed another decimal, making its worth increasingly negligible in the volatile crypto market.$BTC

#PiCoin #CryptoDecline #BybitSecurityBreach #PiNetworkkyc #PIKYCControversy

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