‼️🚀🚨The Pi Network (#pi ) has shown notable volatility, mirroring broader cryptocurrency market trends. Currently priced at approximately $1.14, PI has dropped over 19% in the last 24 hours due to heavy selling pressure. The price has fluctuated between a 24-hour low of $1.08 and a high of $1.215.
🛑Additionally, its market capitalization has fallen from $19.2 billion to about $7.9 billion, although the 24-hour trading volume remains strong at over $550 million. This decline aligns with a general market dip of roughly 1.5%, reflecting the influence of external sentiment and internal network factors.
❕This recent price activity follows PI's transition to an open mainnet in February 2025, which initially generated optimism and pushed its value to a record high of $2.99. However, the current bearish trend raises investor concerns about whether this is a temporary pullback or indicative of deeper issues.
‼️Technical indicators like the weak Average Directional Index ($ADX ) and negative Chaikin Money Flow ($CMF) suggest strong selling pressure and diminishing momentum. Key support lies at $1.23, with potential for a rebound toward $1.57 if buyer interest increases.
🚨For the "#PiArmy " community, this downturn is both a challenge and a possible opportunity. The network's future value will likely depend on its ecosystem growth, adoption rate, and ability to deliver real-world utility.💰