Pi Coin Price Plummets 78%: Is This the End for the Once-Hyped Cryptocurrency?

The cryptocurrency Pi Coin has experienced a dramatic crash, plummeting from its peak of $2.98 in February to just $0.67 in April. This steep decline has wiped out billions in value, leaving investors reeling after the coin’s sudden surge last year. The price plunge marks a significant 78% drop in weeks, reflecting investor anxieties about Pi’s future amidst shrinking market cap from nearly $20 billion to just $4.56 billion. Analysts attribute this volatility to a combination of factors including excessive token unlocks outpacing demand and issues with its KYC (Know Your Customer) system.