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Pi Network price prediction: is it safe to buy the Pi coin dip?

Pi Network price has crashed this month as demand and hype surrounding the coin eases. After soaring to an all-time high of $3 last month, it has dropped by over 60% to the current $1.1630. So, what next for the Pi coin in the next few years, and will it become a viable Bitcoin rival?

Why Pi Network price has crashed

Pi Network is a cryptocurrency project that has been around in the last seven years. It was in its development phase for the most part of this period. In it, over 60 million pioneers actively mined it, with the goal of converting their winnings into fiat currencies like the US dollar. 

Pi Network launched its mainnet in February, making it possible for pioneers to sell their tokens. As was widely expected, the Pi coin fell immediately after being listed in several exchanges like OKX and MEXC. This crash happened as these pioneers sold their tokens. 

Pi Network price then bounced back immediately after that and reached an all-time high of $. This rebound happened as the hype surrounding the Pi coin jumped. 

Recently, however, Pi coin has crashed, and is now hovering near its lowest level since February 22. 

There are a few reasons why the value of Pi has crashed in the past few weeks. First, the hype surrounding the token has waned, pushing more holders to sell their tokens.