4 reasons for PI network price crashed after Mainet launch

PI Network crashed after launching Mainet, which led to a Vipeout of $ 6 billion in the first two days.

PI Network (Write) He traded on Saturday from $ 0.76 on Saturday, with the installation of a maximum price of $ 2. Here are the four main reasons why the pricing of PI coins crashed.

PI network prices are crashed in the middle of the indictment of fraud

The key reason why the whole for Kovan has collapsed that Ben Zhou, the CEO of Bibita, attacked him to be a scam. He quoted a Chinese report accusing Pi that the scam is directed towards the elderly.

The PI network has discarded These charges and is maintained that this is the original CRIPTO project that is developed in the last six years.

The statement of the director of Bibit was noticeable for two reasons. First, the company became the second largest crypt in terms of volume after bynance. Second, it came on the same day $ 1.4 billion happened on her exchange.

Pioneers probably dropped their tokens in the middle of panic

Another reason why the coin price has collapsed that many pioneers decided to reject their tokens after starting the main networks.

Historically, most pre-Mainet Lanting Honker sells them as soon as possible to prevent further losses. In the case of Pi Network, many of these carriers saw each other for earnings Tokens crashed without bouncing.

The chart below shows that all tokens for salary on the Blocken tone crashed after their starting the main network. This includes popular names like notcoin (No) and a hamster kombat.

Many new launched collision tokens

Furthermore, the PI network price crashed because many initial tokens collapsed. For example, a high utility token like a wormhole (You) At first it reached 1.6 USD after a plan in April last year and crashed to $ 0.17.

Similarly, Zxinc (ZK) The price rose to 0.2942 USD after her air and fell to $ 0.1. Eigenlaier (Eigen), Another blue-chip coin, fell from $ 5.6 in 2024. To $ 2.

Recently, the official Trump and Melania Meme Memeaning Coins submerged over 80% of its climax.

The price of Konal has been demolished as cryptocurrency

Furthermore, crashes on the PI network price accelerated due to current weaknesses in the crypto industry. The price of Bitcoin remains in the correction after falling by 10% of its all time. Others Altcoini like Etherem, Cardano, Algorand and nearby also withdrew double digits from their November High.

Crypto Index of fear and greed He switched from an extreme greed zone of 88 to neutral point 40. Historical, new launched tokens work well when there is a bull market.

This is a similar concept as in the initial public offer, where many new lists are raised when supplies work well.

Will Pi jump jump?

It is difficult to predict whether the PI network coin will reject this year, because it is in the price detection phase. His jump will probably depend on more demand coming from investors, and its growth of ecosystems.

PI Network had about 100 applications online in Mainet startup. Strong growth of users for some of these applications can be a good price catalyst.

For example, wildly popular dapps like Aave and Unisvap helped support the Etherum network in the last few years.