Pi Network remains resilient despite broader crypto downturn and limited market exposure.
Oversold RSI and rebound from $0.475 hint at a possible short-term price bottom.
Long-term success hinges on Open Mainnet launch and expanding ecosystem utility.
The Pi Network is facing growing skepticism from its community following a steep 30% price decline in June. The drop, which has occurred amid a broader crypto market downturn, has triggered a debate about the project’s future and its ability to maintain holder confidence ahead of its long-awaited Open Mainnet launch.
While the project’s leadership highlights its long-term, utility-driven growth strategy, the recent price weakness has become a primary focus for its user base.
Broader Market Pain, But Pi Holds Key Advantages
Cryptocurrencies across the board are under pressure. Bitcoin, Ethereum, and Solana have all dropped significantly, and their declines have impacted the entire digital asset space. Consequently, Pi’s price action must be understood in this wider market context.
Despite the recent slide, Pi has a distinct growth story. Unlike many tokens, Pi remains in an enclosed Mainnet phase, whi…
The post Is Pi Network Losing Community Trust as Price Sinks 30% in June? appeared first on Coin Edition.
