The price of Pi (PI) dropped by 25.7% in the past 24 hours. The token went down to $0.93 at 15:00 UTC, reaching its lowest price since May 12.
According to data from crypto.news, the recent price drop also brought a 3.7% increase in its trading volume. At the moment, Pi’s daily trading volume sits at over $1.73 billion in the past 24 hours. Despite the price drop, its daily trading volume went up by $300 million compared to the previous day. This could indicate that holders are rushing to sell the token amidst fears of the price dipping lower.
Most recently, the Pi Network team hinted at a major announcement scheduled to take place on May 14. The post shared on May 8 only described it as an “ecosystem announcement. Not only that, the timing of the announcement also coincides with the upcoming Consensus 2025 Summit, where Pi’s founder is scheduled to speak.
These recent events sparked trader optimism, leading to its recent rally which pushed the price of Pi up past the $1 mark.
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