Pi Network’s PI Token Dumps to New All-Time Low Despite Big Events Coming Up
The cryptocurrency market headed south laborious on Monday as soon as once more, with BTC tanking under $74,000 for the primary time in nearly three months, whereas ETH slipped under $2,100.
Pi Network’s token has taken this crash worse than most. The asset, which has failed to stage a notable comeback after its summer time slumber, nosedived to a recent all-time low at simply over $0.063. The asset has slumped by greater than 13% previously 24 hours, and it’s down by almost 20% since this time final Monday.
Can PI Recover?
It took PI roughly 5 months to chart a brand new all-time low. Recall that the final one got here in June when the token dropped to simply over $0.070, the place it lastly discovered some help. It tried to rebound within the following months and peaked at $0.11 after the mid-August rally. However, it rapidly retreated and hasn’t been in a position to pump previous $0.10 ever since.
Following at this time’s crash, PI’s market cap has dropped to $720 million, making it the 69th-largest cryptocurrency by that metric on CoinMarketCap. The broader calamity is even worse, because the asset has shed nearly 98% of its worth since its all-time high of $2.98, marked in late February 2025.
Meanwhile, members of the huge Pi Network group tried to provide some perspective on X on this crash. One consumer said 61% of the buying and selling quantity previously day has been gross sales in contrast to simply 39% buys. The common each day unlock stays at round 6.5 million tokens, which solely intensifies the promoting stress. Volume stays low, whereas no main exchanges equivalent to Binance or Coinbase are ready to record the asset. This, aligned with the broader market’s weak spot, led to the brand new ATL, the consumer mentioned.
Another argued that any try by the Pi Network staff to maintain main occasions or publish new updates will probably be met with one other worth drop and a macro low. They went additional, predicting that PI will finally tank to $0.05 because the Core Team does “not perceive the bottom actuality.”
The Event in Question
The subsequent main occasion coming across the nook for Pioneers was introduced firstly of the month, and the staff offered additional particulars over the weekend. The Ecosystem Summit is scheduled for November 17-19, and it’ll function platform launches, technical demos, and a hackathon with a $200,000 prize pool.
The summit will stream dwell on YouTube, and the staff promised it should give attention to developer initiatives, AI integration, and ecosystem showcases over the three days.
The publish Pi Network’s PI Token Dumps to New All-Time Low Despite Big Events Coming Up appeared first on CryptoPotato.
