The cryptocurrency market headed south laborious on Monday as soon as once more, with BTC tanking under $74,000 for the primary time in nearly three months, whereas ETH slipped under $2,100.
Pi Community’s token has taken this crash worse than most. The asset, which has did not stage a notable comeback after its summer season slumber, nosedived to a recent all-time low at simply over $0.063. The asset has slumped by greater than 13% previously 24 hours, and it’s down by practically 20% since this time final Monday.
Can PI Recuperate?
It took PI roughly 5 months to chart a brand new all-time low. Recall that the final one got here in June when the token dropped to simply over $0.070, the place it lastly discovered some assist. It tried to rebound within the following months and peaked at $0.11 after the mid-August rally. Nevertheless, it shortly retreated and hasn’t been capable of pump previous $0.10 ever since.
Following at this time’s crash, PI’s market cap has dropped to $720 million, making it the 69th-largest cryptocurrency by that metric on CoinMarketCap. The broader calamity is even worse, because the asset has shed nearly 98% of its worth since its all-time excessive of $2.98, marked in late February 2025.
In the meantime, members of the huge Pi Community group tried to supply some perspective on X on this crash. One consumer stated 61% of the buying and selling quantity previously day has been gross sales in comparison with simply 39% buys. The common every day unlock stays at round 6.5 million tokens, which solely intensifies the promoting strain. Quantity stays low, whereas no main exchanges reminiscent of Binance or Coinbase are ready to listing the asset. This, aligned with the broader market’s weak spot, led to the brand new ATL, the consumer stated.
One other argued that any try by the Pi Community crew to carry main occasions or publish new updates will likely be met with one other worth drop and a macro low. They went additional, predicting that PI will ultimately tank to $0.05 because the Core Staff does “not perceive the bottom actuality.”
The Occasion in Query
The subsequent main occasion coming across the nook for Pioneers was introduced initially of the month, and the crew supplied additional particulars over the weekend. The Ecosystem Summit is scheduled for November 17-19, and it’ll characteristic platform launches, technical demos, and a hackathon with a $200,000 prize pool.
The summit will stream stay on YouTube, and the crew promised it can concentrate on developer initiatives, AI integration, and ecosystem showcases over the three days.
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