Millions Mine PI on Their Phones: Price Drop Serves as a Caution for Investors
Overview of Pi Network: Pi Network is a cryptocurrency platform designed for easy mobile mining, attracting millions of users known as "Pioneers" who mine coins by tapping a button daily.
Price Crash Details: Following the launch of its Open Mainnet on February 20, 2025, the PI token experienced significant volatility, peaking at over $2.10 before plummeting to around $0.37, an 87% decline from its previous high.
Factors Behind the Decline: The price drop was driven by massive selling pressure from miners, a lack of utility in the ecosystem, and negative market sentiment affecting investor confidence.
Investor Caution Advised: The situation serves as a warning about the speculative nature of cryptocurrencies, highlighting risks such as centralization concerns and allegations of pyramid scheme-like practices within the network.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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