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Pi Network Token Plunges 60% as Bearish Sentiment and Utility Concerns Mount
Pi Network Token Plunges 60% as Bearish Sentiment and Utility Concerns Mount
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[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
Pi Network’s token has dropped over 60% since mid-May, diverging from broader crypto market trends. Currently trading at $0.6427, technical indicators suggest potential further declines to $0.40.
Unlike major cryptocurrencies responding to macroeconomic factors, Pi faces unique selling pressure from upcoming token unlocks and lack of real-world utility adoption. Despite a 13.57% monthly gain, consecutive red candles indicate eroding investor confidence.
A recent gaming ecosystem update failed to shift market sentiment. Analysts point to fundamental challenges—without clear utility or institutional backing, the downward trend appears likely to continue.
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