The PI network token (PI) has experienced a significant downturn in recent days, shedding over 20% in value since last week. This decline follows a brief recovery above $1.79 on March 13th, and the price currently stands at $0.91 as of today’s writing. Several factors are contributing to this downward pressure. These include token unlocks, increasing activity on centralized exchanges, and the lack of responsiveness from major exchanges regarding listing requests. The token has also fallen in market rankings, dropping from 17th to 27th on Coingecko. The current market capitalization stands at $6.2 billion, reflecting a loss of over $1.4 billion since last week. 2FA implementation for Pi Network users is a key step in transitioning from the enclosed mining app to the Open Network mainnet blockchain and boosting user security. Analysis of PI/USDT chart on TradingView highlights a falling wedge pattern on the 4-hour timeframe. This pattern, generally seen as bullish, forms when an asset’s price consolidates between two downward-sloping, converging trendlines. Though this suggests decreasing volatility, there is still pressure at $0.87 and support near the lower trendline remains firm.