The Pi Network (PI) cryptocurrency has experienced sharp fluctuations in its value since it began trading in secondary markets, sparking widespread controversy among investors. The currency started at around $2, then dropped to $0.6, before achieving a sudden spike that reached $3. However, this rise was short-lived, as the currency began to decline again until it reached its current price.
Reasons for the sharp decline:
1. Lack of a strong official market
Pi is still not available for trading on major centralized platforms like Binance and Coinbase, making its price volatile due to insufficient liquidity.
2. Selling pressure from early users
Many coin holders, who mined it for free years ago, began selling it at the first opportunity to make profits, increasing selling pressure and driving the price down.
3. Delay in transitioning to the open network
The lack of an official transition to the Mainnet Open Network has left investors in a state of uncertainty, as many are waiting to see how the currency will actually be used.
Recent price movements:
After the sharp drop to $0.6, the currency saw some improvement, but it could not maintain any long-term increase.
It recorded $3 as its highest level, then began a gradual decline due to increasing sell-offs.
Currently, the price continues to decline with slight upward attempts, but they do not last long.
What awaits the cryptocurrency?
If Pi continues to delay the opening of its mainnet and entering strong trading platforms, the price may remain volatile, with the possibility of further decline. However, if it is officially listed on accredited exchanges, it may witness a new recovery.
Advice for investors:
Due to the high risks and rapid volatility, it is advised to handle the currency with caution and not to invest money that cannot be afforded to lose.
