Telephone, der
In the past 24 hours, the broader cryptocurrency market has achieved impressive gains, led by Bitcoin, which surpassed $85,000. However, even during such a positive period, the performance of PI remains disappointing, as its price hovers just below $0.7 after a slight daily decline.
PI Token Price. Source: Coingecko
As illustrated in the chart above, the downturn is particularly striking for PI, which was made available to the public and global trading over a month ago. The asset peaked in late February but has since plummeted over 75% from its all-time high of $3.
Despite some hopeful developments in the PI network, such as updates to the verification process, the local cryptocurrency has failed to regain its momentum, declining by 3.5% in the past day. This is especially disappointing given that nearly all other crypto assets have experienced success during the same period. Since Friday, Bitcoin surpassed $85,000 for the first time, ETH exceeded $1,900, and Doge and Ada jumped more than 4% daily.
Nevertheless, over the past few years, the PI Network Community has seen exponential growth. Despite the recent negative price performance, sentiment remains bullish. Many users on X predict that once the “market volume returns,” its price could stabilize around the current support level of $0.7 and potentially rise to $2. Moon Jeff is even more optimistic about PI’s short-term price movements, suggesting it may reach $2.73 by the end of the month.
