Pi Network Plummets 25%—Week-Long Rally Crashes Hard

Just when ’hodlers’ thought they’d cracked the code, Pi Network’s token slashes gains in a brutal reversal. The ’people’s crypto’ now bleeding out after seven days of unsustainable hype.

Technical indicators scream overbought—turns out mining via phone app doesn’t magically defy market gravity. Another ’Web3 revolution’ meets the cold hard math of sell pressure.

Bonus jab: At least the dump didn’t happen during a live AMA. Progress?

This rally break was accompanied by a 3.7% surge in its trading volume.

At the moment, Pi’s daily trading volume sits at over $1.73 billion in the past 24 hours. Despite the price drop, its daily trading volume went up by $300 million compared to the previous day. This could indicate that holders are rushing to sell the token amidst fears of the price dipping lower.

The recent drop in prices could lead to traders “panic selling,” which could push prices even lower while trading volume goes up alongside selling pressure.

Most recently, the Pi Network team hinted at a major announcement scheduled to take place on May 14. The post shared on May 8 only described it as an “ecosystem announcement. Not only that, the timing of the announcement also coincides with the upcoming Consensus 2025 Summit, where Pi’s founder is scheduled to speak.

These recent events sparked trader optimism, leading to its recent rally which pushed the price of Pi up past the $1 mark.

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