The recent selling pressure on the cryptocurrency market has negatively impacted Pi Network’s Pi coin. Over the last 24 hours, Pi coin has experienced a value drop of more than 10%, falling to around $0.53. The lack of anticipated recovery signs in the market has heightened altcoin investors’ anxiety, further contributing to a decline in trading volume and investor confidence.
Drastic Decline in Trading Volume for Pi Coin
Pi coin had previously gained significant attention by rising to $3, but it has failed to sustain this momentum in recent weeks. Recent data indicates that the price has dropped to $0.53, with trading volume decreasing by 57%. This dramatic decline has deepened due to widespread sales in the market.
The swift exit of major investors from Pi coin has led to approximately $1.4 billion in liquidations across the market. This situation has placed pressure not just on Pi Network but also on the prices of many altcoins. Experts warn that sudden changes in market conditions elevate risk levels, advising caution among participants. In the case of Pi Network, the price movements portray a stark picture, far from the recovery investors had hoped for.
Unmet Expectations Lead to Diminished Confidence
One of the most significant blows to Pi Network has come from the unlocking of locked Pi coins. While the forecast of fewer coin unlockings has generated some short-term hope, it has failed to positively affect the price. Approximately 1.5 million coins are expected to be unlocked daily in April. Although this figure is lower compared to previous months, it has not been enough to exert a positive influence on the price.
Additionally, the Pi Core team’s silence regarding future developments and the absence of news about listings on major cryptocurrency exchanges have further shaken investor confidence. Investors want clearer and more concrete actions to regain their trust in the altcoin project. However, this lack of communication hinders the creation of a favorable environment for Pi coin.
Expert Warns of Potential Drop to $0.30 for Pi Network
Renowned cryptocurrency analyst Dr. Altcoin has raised concerns over the possibility of further declines in Pi Network. According to the analyst, if significant changes aren’t made to the tokenomics, the price could plummet to $0.30. The current silence from the project team and unmet user expectations contribute to the increasing selling pressure.
Dr. Altcoin’s Warning for Pi Network Pi Coin
Dr. Altcoin also noted that a stable recovery in the market is unlikely until at least August. The movement of Pi coins into centralized exchanges and the ongoing activity there could trigger a new wave of selling. Therefore, it is emphasized that investors should act cautiously in the short term. As the market navigates through a period of uncertainty, it is crucial for investment decisions to be made carefully.
