Why is the Pi Network (PI) Price Down Today?

“Uptober” has been more than generous (so far) to the cryptocurrency market, with Bitcoin (BTC) and Binance Coin (BNB) rising to new record price levels. However, Pi Network’s PI has not joined the party, and its valuation keeps ￰0￱ Bears Remain in Charge Just a few hours ago, the price of the native token of Pi Network collapsed to a new all-time low of around $0.23 (per CoinGecko’s data). It later slightly rebounded to the current $0.24, representing a whopping 30% decline on a monthly scale and a 90% crash from the peak of $3 registered in ￰1￱ Price,). Some community members believe the free fall may continue in the short ￰2￱ X user with the moniker The Times of PiNetwork, for instance, predicted that the valuation could soon nosedive to $0.10.

For their part, pinetworkmembers argued that the Pi Network team has not done “anything good and reasonable for PI yet since the Open Mainnet launch, and they have no idea where to head this project anymore.” “There is no decentralization, announcements have not gotten fulfilled and developed, 2 people in the network control ￰3￱ is extremely down, and the on-chain usage of PI is ￰4￱ of that are major red flags… So enjoy now in seeing PI got burned and never recover again,” they ￰5￱ for the Bulls Despite PI’s negative performance as of late, some factors suggest a resurgence may be on the ￰6￱ starters, the upcoming token unlocks are significantly less substantial than those observed in previous ￰7￱ shows that less than 120 million PI are scheduled for release in the next 30 ￰8￱ Token Unlocks,), which plummeted to ￰9￱ below 30 signal that PI’s price has tumbled too rapidly in a short period of time and could be due for a ￰10￱ the other hand, anything above 70 is often interpreted as a precursor of a ￰11￱ RSI,) Price Down Today?

appeared first on CryptoPotato .