Pi Network's token, Pi, drops 4% to $1.45 despite new developments

The price of Pi Network's token, Pi has recently experienced major selling pressure, dropping by 4% to $1.45. This decline came after a brief period of excitement when the coin surged by 20% to $1.70 but later corrected.

The price of Pi Network’s token, Pi, has dropped by 4% in recent trading to $1.45. The token is now trading at a critical support level of $1.20. If the price breaks down below this level, it could open the door for further declines.

On the other hand, a move above the key resistance level of $1.90 could pave the way for a continuation of the bullish trend, with the next major target at $3.

The past few days have seen some major price swings in the Pi token. The token surged by 20% on Monday to a high of $1.70 before correcting to around $1.50. However, the token faced selling pressure on Tuesday, falling to a low of $1.40 before recovering slightly to trade at $1.45 by press time.

The Pi Network is still operating within a closed-loop economy without open blockchain access and major exchange listings. This limited growth potential and contributed to the significant sell-off that occurred during Pi Day celebrations.

One of the main reasons behind the frustration and panic selling among the community was the KYC purge, where millions of unverified accounts lost their Pi tokens.

The network is currently in a testing phase with limited user capacity, and the founders are working on expanding the network to accommodate a larger user base.

The network is also planning to launch its own exchange, which will enable users to trade Pi tokens and other cryptocurrencies.

The network is aiming to create a self-sustainable ecosystem where users can contribute to the network and get rewarded for their contributions.

The network is still in the early stages of development, but it has already achieved some impressive milestones. The network has a large and active community of users who are passionate about the project.

The network is also committed to transparency and open communication with its users. All of the network’s activities are documented in a blog that is regularly updated and shared with the community.

The network is constantly innovating and developing new features and products to enhance the user experience.

The network is also focused on expanding its global reach and making its products and services accessible to a wider audience.

The future of Pi Network will depend on its ability to develop stronger utility, gain real-world adoption, and deliver a clear, actionable roadmap. With ongoing developments and potential exchange listings, many are hopeful that Pi Network could soon rise to new highs.