Pi Coin Price Plunge Sparks Market Turmoil as Supply Increases

The Pi coin price is experiencing a significant decline, dropping below $0.60 after an increase in circulating supply. Currently trading at around $0.59, the altcoin has lost over 30% of its value within the last 14 days and more than 80% since hitting its peak on February 26th. This price drop is directly linked to the release of over 119 million Pi coins into circulation throughout April. A substantial increase in coin supply has exacerbated the market’s delicate balance, particularly during periods of low trading volume.