Pi Network Token Experiences Sharp Decline, Ending Recent rally
Pi Network’s token (PI) has seen a important drop of 25.7%, halting it’s upward trend that pushed the price over $1. According to crypto.news,the token’s value fell to $0.93 on May 12, marking its lowest point since then.
Despite the decline, trading volume surged by 3.7% in the past 24 hours, reaching over $1.73 billion. This increase in volume suggests that holders might be selling due to price fears. The token’s price is now 61% below its all-time high of $2.99.
The Pi Network’s recent rally, fueled by a 114% weekly surge, was short-lived. the token’s weekly gains are now at 95%, and its monthly increase stands at 53.9%. The sudden drop could lead to “panic selling,” further decreasing the price.
On a positive note, the Pi Network team announced a major ecosystem update on May 14. This declaration, coupled with the founder’s appearance at the Consensus 2025 Summit, had previously boosted trader optimism.
These events initially pushed the price past the $1 mark. However, the current price drop may dampen this optimism. Remember, this data is for educational purposes and not investment advice.
