BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Pi Coin Crashes 50% Post-Rally as Token Unlocks Trigger Market Flood
Pi Coin Crashes 50% Post-Rally as Token Unlocks Trigger Market Flood
19
1
[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
Pi Coin’s rollercoaster week ended in a sharp downturn, with the token losing more than half its value after a short-lived spike to $1.70. The May 13 peak quickly faded as 272.9 million unlocked tokens ($234.6M) hit the market, pushing prices down to $0.81 within two days.
Market cap plummeted from $9 billion to $6 billion, knocking Pi out of the top 20 cryptocurrencies. Analysts caution that scheduled token unlocks in the coming month will continue to create significant downward pressure, hindering any potential price recovery.
Now ranked 29th, PI reflects dwindling investor confidence. ’LMAO $PI really said "buy"’ joked one trader, capturing the market’s volatile mood.
By:
Previous
Analyst Suggests Gold Standard Pivot to Counter De-Dollarization Trend
Next
Gala Music Launches The Hot Box Mystery Box with Exclusive NFTs and Rewards
