Pi Network’s price continues its steep decline, hovering near all-time lows as investor sentiment in the crypto market worsens. The exchange-traded product (ETP) linked to Pi, known as Valor Pi, now has a meager $3,000 in assets, fueling concerns about the project’s future. Analysts warn of further price drops, although a short-squeeze cannot be entirely ruled out. The Pi Network token, previously trading at $0.2085, has plunged over 90% from its all-time high and its volume on exchange has plummeted, while market capitalization has shrunk to just $2.8 billion. Factors contributing to this decline include relentless token unlocks, high centralization issues, a lack of real-world utility, and the ongoing dumping by early investors. Pi’s low liquidity, with most major exchanges ignoring it, and its centralized structure, have further exacerbated the situation. Despite recent efforts such as an $100 million ecosystem fund and AI studio to encourage developer activity, these initiatives haven’t been successful in attracting widespread investor interest. Notably, the Valor Pi Fund, launched in August, has attracted a paltry amount of investment. As per data on its website, it currently holds only $3,000 worth of assets. This decline signals waning investor confidence and highlights that the project is struggling to gain traction. Technical analysis shows a continued downward trajectory for the Pi Network price, with indicators like the Relative Strength Index (RSI) signaling oversold conditions and the MACD indicator remaining below zero. The risk associated with shorting Pi lies in its potential for significant spikes if the team announces a token burn or if a major exchange decides to list it. This dynamic could lead to dramatic gains in short term, making it crucial for investors to proceed with caution.