Pi Network's native token, PI, has experienced a significant price decline recently, dropping approximately 44% over the past four days.
Several factors have contributed to this downturn:
1. Delayed Binance Listing: Despite strong community support, Binance has not yet listed PI, leading to reduced investor enthusiasm.
2. Whale Manipulation: There are concerns about large holders manipulating PI's price through coordinated buying and selling, increasing volatility.
3. Limited Utility: PI's real-world use cases remain minimal, limiting its adoption and affecting its market value.
4. Profit-Taking by Early Miners: Early adopters may sell their tokens upon market entry, increasing supply and potentially driving prices down.
These factors have collectively contributed to PI's recent price decline.