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Pi Coin Going Bearish

Pi coin Down to All time Low

Pi Coin is experiencing a steep decline, now trading near $0.54—dangerously close to its all-time low of $0.6152. This downward trend can be attributed to several key factors:

1. Massive Token Unlock: Over 100 million PI tokens were recently released into circulation, creating an oversupply that pushed prices down.


2. KYC Verification Issues: Many users missed the initial KYC grace period, locking them out of their tokens and triggering frustration. Some have sold off their holdings, increasing sell pressure.


3. Lack of Major Exchange Listings: Despite community demand, PI remains absent from major platforms like Binance, limiting accessibility and reducing market demand.


4. Market Sentiment & Centralization Concerns: Ongoing criticism about the network’s centralized control has weakened investor confidence.



Currently, PI is testing a critical support level at $0.65. If this fails, the price could fall below its previous low. To counter the decline, Pi Network has extended the KYC deadline to December 31, 2024, and is focusing on expanding its ecosystem by encouraging dApp development and onboarding merchants. While the situation is tough, the project still has a loyal community hoping for a rebound as adoption grows.


    


    


 


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