The cryptocurrency Pi Network has shown significant decline in recent months, reaching a new all-time low. This article examines the latest price fluctuations and market influencing factors.
New Record Low
The recent price drop of Pi Network to $0.33 has marked it as the lowest value since its inception. The market capitalization has diminished to approximately $2.6 billion, removing it from the list of the top 50 cryptocurrencies.
Bearish Factors
In the next month, nearly 170 million PI tokens are expected to unlock, potentially creating additional pressure on the price. Over 416 million tokens are already held on exchanges, increasing the likelihood of sells from investors.
Outlook and Predictions
Despite the current downturn, some analysts remain optimistic about potential recovery. However, achieving expected price levels requires significant increases in market capitalization.
The situation surrounding Pi Network remains tense, and while there are predictions for recovery, current factors may continue to negatively impact the market.
