Pi Network Plunges 25.7% Amid Rollercoaster Ride

From Highs to Lows: Pi's Dramatic Fall

Hold onto your hats, folks! Pi Network just nosedived a whopping 25.7%, shattering its upward streak that had everyone buzzing when it soared past the $1 mark. And guess what? Its trading volume? Up by 3.7% in the last 24 hours. Talk about a wild ride!

A Sharp Descent Since May 12

Get this: since May 12, Pi Network's token (PI) has been on a slippery slope. It hit rock bottom at 15:00 UTC on May 12, crashing to $0.93, just shy of that $1 dream. And right now? It's down nearly 25% in the last day of trading. Can you believe it?

The Rally That Wasn't

This sudden plunge put the brakes on the token's rally, dragging it down 61% from its all-time high of $2.99. Just a day ago, it was partying past $1 with a 35% surge! Powered by a mind-blowing 114% weekly jump. But then, wham! The decline slammed the brakes on that rally, knocking its weekly gains down to 95% and its monthly uptick to just 53.9%. What a twist!

Volume Surges Amid the Chaos

Oh, and did I mention? This rally break came with a 3.7% surge in trading volume. Crazy, right?

Trading Volume Soars Despite the Dip

Right now, Pi's daily trading volume is over $1.73 billion in the last 24 hours. Despite the price drop, it's up by $300 million from the day before. It looks like holders are scrambling to sell, fearing the price might keep tumbling.

Panic Selling on the Horizon?

This price drop could set off a wave of "panic selling," sending prices even lower while trading volume skyrockets alongside the selling pressure. Hold tight, it's gonna be a bumpy ride!

Major Announcement Looming

Here's the kicker: the Pi Network team dropped a hint about a huge announcement set for May 14. They're calling it an "ecosystem announcement." And get this, it lines up with the upcoming Consensus 2025 Summit where Pi's founder is set to take the stage. Coincidence? I think not!

Optimism Fuels the Rally

These juicy tidbits sparked a wave of trader optimism, fueling that recent rally that pushed Pi past the $1 mark. But now? It's anyone's guess what'll happen next.

Disclaimer

Just a heads up: this article isn't your investment advice. It's all for kicks and giggles, and maybe a bit of education. So, take it with a grain of salt and enjoy the thrill of the crypto rollercoaster!