Pi Network Price Plunge Ignites Rug Pull Suspicions - What’s Really Happening?
Pi Network's sudden value collapse sends shockwaves through crypto circles, triggering alarm bells among investors and traders alike.
The Unraveling
Witnessing a dramatic price freefall that would make even seasoned crypto veterans flinch, Pi Network's token valuation took a nosedive that left market participants scrambling for answers. The sheer velocity of the decline sparked immediate comparisons to classic exit scams that have plagued the digital asset space.
Community Backlash
Social media platforms erupted with accusations and theories as holders watched their positions evaporate. The timing couldn't be worse—just when mainstream adoption seemed within reach, this collapse threatens to undermine years of community building and development efforts.
Market Realities
While some defenders point to broader market conditions, the disproportionate impact on Pi Network raises legitimate questions about project fundamentals and tokenomics. Another day, another 'revolutionary' project showing why traditional finance types still view crypto as the Wild West of investing.
The aftermath leaves investors wondering whether this is a temporary setback or the final curtain call for a once-promising project.
Pi Network price analysis
As of late, the Pi Network price remains under heavy pressure, trading at around $0.263 at the time of writing. The token suffered a sharp decline in late September, plummeting from around the $0.33–$0.34 range to below $0.26. Since then, Pi has been consolidating sideways with minimal volatility, suggesting that market participants are uncertain about the token’s next direction.
The 30-period moving average sits closely above the current price at $0.2623, acting as a short-term resistance level.
Despite the stabilization, momentum indicators reveal only modest recovery potential. The Relative Strength Index currently reads 62.00, showing that buying pressure has slightly increased but is still within neutral territory. A sustained MOVE above 70 could signal a short-term overbought condition, while a drop below 50 might confirm renewed selling pressure.
For now, RSI levels indicate that Pi is in the middle of experiencing mild bullish momentum following prolonged consolidation.
So far, the price structure shows limited upward traction as long as Pi remains below the $0.28 resistance zone. A breakout above this level could open the door for a rebound toward $0.30, but without strong volume support, such a move may be unsustainable.
On the other hand, if it fails to maintain support NEAR $0.26 it could fall even lower to around $0.24, especially if broader market sentiment weakens or additional selling from major holders occurs.
