Pi Network Price Plunge Sparks Rug Pull Fears Amidst Market Uncertainty

The Pi Network token has experienced a drastic price decline of over 90% since its February peak, wiping out billions in market capitalization. This dramatic plunge has reignited concerns about a potential “rug pull” – an illicit act where developers disappear with investors’ funds. The current price sits around $0.26, showing weak recovery signals. Technical indicators hint at mild bullish momentum despite the overall bearish trend.