The Pi Network token has shed over 17% of its value in the last 24 hours. The token has dropped seven places in Coinmarketcap rankings as skepticism mounts.
Key Factors Contributing to PI's Freefall
One main factor in the price drop is the end of the KYC Grace Period, leading to panic selling among users. Also, the silence from Binance and other major exchanges on listing PI has fueled uncertainty.
PI/USDT Price Analysis
The Tradingview chart shows price resting at crucial $1.10 support. Sustaining this level may allow a move towards the 20-day moving average at $1.37.
The Future of PI Token
Though PI's future remains uncertain, investors should monitor market sentiment and exchange support. Platform endorsement and market trends will play a vital role in its price recovery.
Despite current challenges, Pi Network is progressing. Its price outlook hinges on various factors including investor behavior and exchange backing.
