Pi Network Price Dumps 10% Amid Weak Demand and Selling Pressure

Pi Network's price has been under pressure this week due to weak demand and selling pressure. The cryptocurrency has fallen about 10% over the past week, trading in a range-bound of $0.12 to $0.13, near its recent lows and losing momentum in its upward trend.

The Pi coin's decline is attributed to the overall crypto sentiment, which remains weak, with major assets like Bitcoin, Ethereum, XRP, SOL, DOGE, BNB, and HYPE experiencing small drops. The CMC Crypto Fear and Greed Index was at 22, indicating fear among traders.

The Pi Network faces another warning sign as CEX wallet balances show heavier outflows than inflows over 24h. Tracked exchanges held 556.77m Pi, with total inflows at 319,303.75 Pi and outflows at 579,018.71 Pi.