Massive Sell-off Wave Hits Pi Network Amid Crypto Market Growth
While the cryptocurrency market is vibrant with Bitcoin's strong growth and continuously setting new price peaks, Pi Network is experiencing the opposite trend with an increasing sell-off wave. According to market data, the PI token price has dropped by 25% in just 30 days and lost over 84% of its value compared to the peak set in February 2025.
Pi's downward momentum is creating a sense of panic among users and investors. Technical indicators currently show negative signals, reflecting extremely high selling pressure. In reality, many investors have been forced to cut their losses as Pi's price continues to plummet.
Sharing with VnExpress, Mr. Minh Hoang (Ho Chi Minh City) said: "I invested 5,000 USD in Pi in early June at around 0.6 USD, expecting a strong recovery. However, currently, my account is only worth about 3,700 USD. I was forced to sell to limit deeper losses."
Similarly, Mr. Van Thanh (Tay Ninh) also said he had to accept cutting losses on a 10,000 USD investment: "I bought Pi at 1.2 USD in mid-May, hoping the price would bounce back after the correction. But by early July, when the price fell to near 0.6 USD, I had to sell to pay off debt and couldn't hold any longer."
Although Pi Network has announced its Primary Network launch, the project is still evaluated by professionals as technologically incomplete. Pi's ecosystem currently does not support smart contracts, and its source code remains unpublished and non-transparent. Additionally, recent updates have been considered insufficient to create growth momentum, focusing only on activities like domain auctions, PiFest shopping programs, and a few small-scale experimental applications.
