Pi Coin has once again come into the limelight amidst the rapidly changing conditions in the Cryptocurrency Market. While the investors were expecting positive changes from the big announcement of May 14, they are very disappointed. Users were hoping that there would be big announcements like Binance Record and token Burn. But this did not happen and the disappointment among users increased, which led to a decline in Pi Coin Worth. By the time the news is written, its value has fallen more than 26% in the last 24 hours, due to which the concern is increasing in investors. But the question is, why even after PI Community Mission Establishing, the expectations of investors were broken? So let’s understand in detail the reasons behind it.
Pi Community Mission Establishing Why did the price fall after?
The Pi Coin Wort is $ 0.8709 until the news is written, with a decline of 26.26% in the last 24 hours. Despite this decline, its market cap still remains $ 6.21 billion and its 24 -hour trading volume is $ 882.19 million. However, there was a significant increase in its price in the last 7 days, but after the May 14 announcement, it suddenly recorded a sharp decline.
Now the question arises that despite such a huge announcement, why did Pi Coin Wort fall such a huge decline? Let’s know, what is the main reason behind this.
Binance Record’s expectations broken, big disappointment in investors
Pi Coin’s supporter and investors were long hoped that this time there could be a big announcement like Binance Record and this hope was further strengthened when 86% of the PI community members voted in favor of this listing. But in announcement on May 14 Pi coin record on binance Not a single word was said about.
Instead, Pi Community announced the launch of a new fund of $ 100 million under the name “Pi Network Ventures”, aimed at supporting new startups and increasing the use in the real world of Pi Token. This may be beneficial for the project in long-term, but currently users were expecting any concrete achievement or market exposure, which they did not get. This was the biggest reason that spread disappointment in investors and started selling tokens.
Token burn is not announced
Tokens in the crypto market are considered a positive signal as it reduces the total supply of tokens and increases the price. At the same time, the investors of Pi Coin were hoping that this time announcement would also bring up planning like token burn, which would have reduced the concern of inflation from 1.3 billion new tools to be released in 2025.
Large quantity of cell-off
Neither the Binance was recorded nor there was any announcement on the token burn, which broke the expectations of the investors and started selling their tokens in large numbers. This accumulation promote-off became the biggest cause of this decline.
Although it was also observed that investors still have confidence in the Pi Coin Project, but repeated delays and incomplete announcements are weakening their trust.
Conclusion
The recent decline of Pi Coin was mainly due to two major reasons, such as the hope of listing on Binance and lack of token burn. Investors were expecting big announcements, but they got the plans of the future, which do not see the effect immediately. This is the reason why concerns increased in the market and there was a large amount of token cell, which saw a big decline in Pi Coin Worth.
