Recently, the Pi Coin cryptocurrency has faced significant challenges. With a 75% price drop from its all-time high, investors are concerned. This article examines three primary reasons contributing to this trend.
Lost Hype
Strong hype often leads to a sharp increase in cryptocurrency prices after launch. However, when this interest fades, investors tend to sell their assets. The same trends affect Pi Coin and other projects like the TRUMP coin.
Poor Technical Indicators
Pi Coin’s technical indicators point to a continued downtrend. The RSI stands at just 25.403, indicating oversold conditions. The CCI is at -138.0935, showing a very strong bearish move. Highs/Lows and the Ultimate Oscillator, along with other indicators, confirm the current market weakness.
Scammer Infiltration
The Pi Network community is susceptible to scam attacks, where fraudsters offer large sums to Pi coin holders as a pretext to steal wallet information via fake sites. Vigilance remains the best defense against such threats.
Despite current difficulties, Pi Coin still has potential for a price recovery. However, investors should carefully assess risks and wait for price stabilization before making new investments.
