Pi Network Price Nears Record Low: What ‘Washed Out’ Sentiment Means for PI Holders

PI is once again among the poorest performers on a daily scale. Although most of the cryptocurrency market has turned red today, some altcoins are taking the storm worse than others. This is typically true for Pi Network’s native token, and today is no exception. The asset has plummeted by 9% in the past 24 hours and has come painfully close to breaking below $0.07, which would mean a fresh all-time low. PI Crashes Again Looking at PI’s price performance, you can easily quote one of the most recognizable songs of all time, which was immortalized from the TV show Friends. It just hasn’t been PI’s day, week, month, or even a year. Aside from a few impressive but very brief pumps, such as the one in March that sent the asset to $0.30 within days, the bears have been in total control, pushing it to a new low after a new low. The last example came precisely two weeks ago. At the time, PI had broken below the crucial $0.10 support and went into price discovery territory (but on the wrong side). It kept plunging until it finally found some support at $0.07, but only after it had charted a new all-time low. Although the bulls reemerged at this point and helped it recover some ground to $0....