Is Pi Network’s Price Jump a Dead Cat Bounce? 🐱🚀

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TL;DR

  • The Pi Network’s native token has taken a breather from its nosedive and has climbed by nearly 10% in just one day.
  • According to CoinGecko, this token is gaining traction among certain investors.

Well, folks, you can’t make a dime off this story, but let’s lay it out straight. The PI token, which made its trading debut on February 20, had a brief moment in the sun on February 26 when it hit a high of $3. But like a poorly timed joke, the fun didn’t last. The token took a nosedive, losing value at an alarming rate.

Yesterday, it hit rock bottom at $0.54, according to CoinGecko, marking an 82% plunge from its peak. This massive decline turned even the most ardent supporters into skeptics. One critic even suggested that the project was nothing more than a slow-moving rug pull. 😅

But in the world of crypto, where anything can happen, the past 24 hours have brought a glimmer of hope to the Pi Network community. PI has surged by over 9% and is now trading at $0.6. CoinGecko reported that PI has become increasingly popular among some investors, even surpassing heavyweights like Bitcoin and Ethereum in trending rankings.

$PI Trends #7 Globally on CoinGecko!

Pi Network ($PI) surges into the Top 10, ranking 7th with a staggering $3.7B market cap—outshining major cryptocurrencies!

The rise is real. Are you holding? #PiNetwork #Crypto

— Pi News (@PiNewsMedia) April 5, 2025

Of course, another reason for this brief price rally could be what’s known as a ‘dead cat bounce.’ This charming term describes a temporary price spike in an asset after a significant drop, often driven by speculative buying to cover short positions. It’s like a last laugh before the final fall. But who knows, maybe this time it’s different. 🤞

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2025-04-05 11:34