Pi Network Faces Crisis: Pi Drops Below $1 Amid Price Manipulation Fears; PiDaoSwap DEX Aims to Fight Back and Stabilize Value

Pi Network is going through a rough time as its cryptocurrency, Pi, has seen a big price drop. It recently fell below $1, hitting as low as $0.87 before slightly bouncing back to $0.9913.

Pi Network is facing a crisis as its cryptocurrency, Pi, has dropped below $1. The price of Pi has been steadily declining in recent weeks, and it hit a low of $0.87 today before bouncing back slightly to $0.9913. Over the past week, Pi has decreased in value by 41%, making investors anxious about further price drops. Some predictions suggest that the price could fall below $0.60.

However, to combat this downward trend, a group of Pi Network supporters has been working on a new project: a decentralized exchange (DEX) called PiDaoSwap. This DEX will be completely independent of external exchanges, which have been accused of manipulating Pi’s price.

A Decentralized Exchange to Counter Price Manipulation

As rumors of price manipulation by external exchanges persist, the Pi Network community is constructing PiDaoSwap. This DEX will ensure that Pi’s value is determined by genuine market demand. According to reports, the platform is in the final stages of development and awaits Know Your Business (KYB) approval from the Pi core team.

Furthermore, PiDaoSwap has secured Twitter’s organizational verification, highlighting the progress being made. The Pi Network VietNames community on Facebook reports that the DEX will prevent external exchanges from manipulating Pi’s price. Some platforms are said to be using bots to inflate or deflate Pi’s valuation.

On a related note, Binance’s failure to list Pi despite community pressure continues to be a hot topic.

Pi Network Branding Restrictions Could Impact PiDaoSwap

While PiDaoSwap is making headlines, concerns have arisen regarding Pi Network’s intellectual property (IP) policies. The official documentation clearly states that using any "Pi-related" branding, such as the Pi logo or name, requires approval from the core team.

This poses a question for the PiDaoSwap team—will their project name and domain need modifications to comply with these IP restrictions before its launch?

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The post Pi Network Faces Crisis as New DEX Arises Amid Price Manipulation Fears