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Pi Network’s $PI Token Crashes 45% as Market Sentiment Turns Bearish
Pi Network’s $PI Token Crashes 45% as Market Sentiment Turns Bearish
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[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
Pi Network’s native token $PI has plummeted 45% from its recent high of $1.57, currently trading at $0.6984 as speculative enthusiasm wanes. The sell-off wiped out $3.7 billion in market cap within 72 hours, reversing a 95% rally seen earlier in the week.
On-chain data shows significant redistribution of holdings, with the top 100 wallets reducing their concentration from 98.76% to below 5% between May 6-16. Technical indicators confirm bearish control, with key EMAs between $0.79-$0.85 now serving as resistance.
The decline follows unsuccessful attempts to maintain price levels after Consensus 2025-related news. Market structure indicates weakening support, with analysts cautioning about further downside without new catalysts.
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