Pi Network Price Recovers But Immediately Disappoints

(Dan Tri) - According to data from CoinMarketCap, the price of Pi Network increased sharply from 0.2 USD to nearly 0.3 USD on the afternoon of October 27.

This nearly 50% growth has delighted many investors, who believe the project has revived.

The price of Pi Network suddenly surged and then plummeted in a short period of time (Screenshot).

However, Pi Network's upward momentum didn't last long as the cryptocurrency was immediately dumped. The price of Pi Network also plummeted on the evening of October 27th. By the morning of October 29th, the cryptocurrency was trading around $0.23 USD.

"The 'pump and dump' (increase and decrease) in Pi Network over a short period clearly shows price manipulation. This kind of price manipulation often occurs with some memecoins (joke cryptocurrencies) to create short-term appeal for the project and thus profit," shared Tran Ngoc, a cryptocurrency investor with many years of experience.

In recent days, the cryptocurrency market has gradually recovered. The total market capitalization of cryptocurrencies reached nearly $3.9 trillion, with Bitcoin rising to $114,500 and Ethereum surpassing $4,100.

Contrary to the overall market growth, Pi Network shows no signs of recovery. To date, the cryptocurrency has lost 90% of its value compared to its peak of nearly $3.

The co-founders of Pi Network have also consistently appeared and shared their insights at major cryptocurrency events. Many new applications have been created to attract user interest in this ecosystem. However, contrary to investors' expectations, the price of Pi Network continues its sharp decline.

Source: https://dantri.com.vn/cong-nghe/gia-pi-network-hoi-phuc-nhung-ngay-lap-tuc-gay-that-vong-20251028155702419.htm