Pi network ($PI) continued its downtrend, crashing over 50% of its value after hitting its all-time high (ATH) of $2.98 on February 26.
This decline partly stems from the Pi network’s plans to unlock approximately 268.48 million PI Coins. Also, the crypto market has been sluggish despite Trump holding a crypto summit in the White House for the first time.
Developed by Stanford graduates, Pi Network is a mobile-based crypto project that allows users to mine tokens using an app. The token initially surged exponentially from its early prices, only to lose half its value from its ATH last month.
Pi Network Is Down 50% From Its ATH—What’s Next?
Soon after its Mainnet launch on February 20, PI was trending among the investor community.
Investor concerns initially grew after Bybit’s co-founder tweeted that Pi Network is likely a scam. He highlighted an official 2023 Chinese police warning that Pi targeted elderly people and leaked personal data.
But within a few days of launch, it gained massive investor support after listing on some of the top crypto exchanges, such as MEXC, Bitget, and OKX. This helped PI enter a price discovery phase and find a new ATH of $2.98 in late February.
However, this momentum slowed down in March. One major reason for this is PI’s plan to release around 268.48 million Pi Coins, worth roughly $478 million, over the next 30 days. This addition to the circulating supply has caused concerns about dilution and higher selling pressure.
Grok AI recently tweeted that Pi Network’s price crash isn’t surprising, as early miners are selling after years of holding. It also highlighted that the lack of a Binance listing has added to investor uncertainty.
Many traders wonder if Pi’s drop to $1.3 is a good buying opportunity or a red flag. This is common since altcoins often experience massive declines after the initial excitement fades.
The overall crypto market is still unstable. Bitcoin ($BTC) fell 25% from its January peak because of major ETF withdrawals. If investor sentiment worsens, PI could continue its downtrend or consolidate for a while.
Many investors are now turning to MIND of Pepe, an AI agent offering exclusive real-time market insights. This project is already hitting new milestones despite the uncertainty in crypto markets.
MIND of Pepe Raises $7 Million Despite Bearish Conditions
MIND of Pepe ($MIND) is quickly gaining traction as a leading AI-themed meme coin, having already raised over $7 million in its presale stage. It’s the first crypto AI agent designed to analyze and trade meme coins autonomously.
The platform leverages advanced AI and hive-mind collective insights to spot emerging market opportunities and trends.
MIND is currently priced at just $0.0034816, but this price will soon increase as the presale moves to its next phase.
Unlike traditional trading bots, MIND of Pepe continuously improves its capabilities through self-learning AI models. Its AI agent can also dynamically interact with its community and dApps.
This AI agent can also instantly launch new meme tokens when it spots a gap in the market. The platform will give MIND token holders priority access to them.
With predictions suggesting the AI agent sector could reach $47 billion by 2030, MIND tokens can offer massive potential to presale buyers. You can also earn passive income through staking MIND tokens for an APY of up to 315%.
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