pipump

Pi Coin has experienced a significant bearish trend recently, with its price dropping approximately 31% over the past week. Several factors contribute to this decline:

1. Market Volatility: The broader cryptocurrency market has been affected by rising inflation, higher interest rates, and global financial uncertainty, leading to declines in major cryptocurrencies like Bitcoin and Ethereum.

2. Project Delays and Skepticism: Delays in Pi Network's project roadmap and growing skepticism about its progress have shaken investor confidence, resulting in increased sell-offs.

3. Exchange Listing Issues: The lack of listings on major cryptocurrency exchanges has limited Pi Coin's accessibility and liquidity, contributing to its price decline.

Technical indicators also suggest a bearish outlook. Pi Coin's moving averages indicate strong selling pressure, and the Average Directional Index (ADX) reflects a weak trend, reinforcing the bearish sentiment.

In summary, Pi Coin's recent bearish trend is due to a combination of broader market volatility, internal project challenges, and technical factors indicating continued selling pressure.

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