PI Plunges 93%: Faithful Hold as Volume Dries Up

Pi Coin's descent into crypto purgatory continues unabated. The token now trades at $0.188—a staggering 93.7% retreat from its February all-time high (ATH) of $2.99. Daily volumes have collapsed alongside price, with the altcoin shedding another 8% today amid broad market weakness.

Technical indicators paint a dire picture. The Relative Strength Index (RSI) at 11.5 signals extreme oversold conditions not seen in twelve months, while the Moving Average Convergence Divergence (MACD) suggests downward momentum may still have room to run. Yet, paradoxically, this level of capitulation often precedes violent reversals in crypto markets.

The project's saving grace remains its devoted community—one of the largest in altcoins. This grassroots support could provide the foundation for a recovery when market sentiment eventually turns. For now, Pi trades like an asset being slowly forgotten by the market, its price action confined to an ever-narrowing descending channel since May 2023.