Pi Coin's price has seen a sharp drop of 16% in the last 12 hours, coinciding with panic within the cryptocurrency market. This downturn has affected other cryptocurrencies as well.
Pi Coin's Price Drop
Currently trading at around $0.5589, Pi Coin has decreased nearly 10% in the last 24 hours, having been at approximately $0.65 just two days ago. Its market cap has fallen to $3.82 billion, and the 24-hour trading volume has dropped over 57% to $468.5 million.
Overall Market Descent
The decline of Pi Coin occurs amidst a broader slump in the crypto market. Bitcoin has fallen below $77,000 after a loss of 8%, while Ethereum plummeted 17% beneath $1,500. The total market capitalization shrank over 9%, now valued at $2.4 trillion. The Fear and Greed Index has dropped to 17, indicating extreme fear among investors.
Pi Coin's Previous Surge
Just two days ago, Pi Coin experienced a remarkable surge of nearly 70% within five hours, closing with a 45% gain. This spike rejuvenated hope among coin holders. However, with the current market panic, the situation has reversed once more, illustrating the unpredictable nature of cryptocurrencies.
The current state of Pi Coin and the general cryptocurrency market emphasizes their volatility and instability. Investors remain watchful for the next developments and emerging trends.
