Since its debut, Pi Network’s market cap plummeted by 90%, with the token now valued at 0.26 USD, down from 2.79 USD. This decline has triggered allegations of a rug pull as community trust erodes.
The increase in circulating supply by over 1 billion tokens has further pressured the token’s price, reflecting poor market sentiment due to unmet promises and misallocation of funds by the project team.
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