A newly launched fake Pi Network token has caused a stir in the crypto world, soaring to an unbelievable $53,000 before plummeting drastically. This unregistered coin, launched on BNB Smart Chain at 5 AM this morning, experienced an astonishing price jump that was fueled by speculation and hype. The fake token quickly climbed over 999,999%, hitting a peak of over $53,000 in just hours before crashing down more than 90% within a short timeframe. This rapid fluctuation has left experts questioning the legitimacy of this virtual currency. While the token’s current price sits at around $20.39 (0.03464WBNB), its market cap and trading volume, which are currently in flux, raise concern about the true scale of this event.