PI Token Faces 60% Price Collapse as Market Sentiment Turns Bearish
PI Network’s native cryptocurrency has experienced a sharp 60% decline from its mid-May peak of $1.65, currently trading at $0.6427. This downturn aligns with both broader crypto market weakness and project-specific challenges, including impending token unlocks. Technical analysis indicates potential for further declines, with $0.40 emerging as the next critical support level.
While Pi shows a 13.57% monthly gain, it has failed to record any positive daily closes in recent trading sessions. Despite ecosystem updates emphasizing gaming integrations, selling pressure continues unabated, signaling deteriorating investor confidence. PI’s underperformance stands in stark contrast to the wider altcoin market, underscoring unique structural headwinds facing the project.
