The crypto market got slammed hard after that CLARITY Act flop rn, sending tons of assets straight into the red zone. 🖤
PI Tanks Even Harder Today 🦇
As the latest updates hit, the US Senate couldn’t push that big bill forward cuz it missed the 60 votes needed. Even tho it was kinda expected, it sparked a full market dip with Bitcoin sliding to 75,000 and Ethereum dropping under 2,400 after losing 3% in a day. These moves feel rough but nothing compared to PI’s total meltdown. It’s the sole top 100 token showing a double digit drop today on September 16 and now sits around 0.083 per the charts, its lowest point since early August. 😈
PI’s total market value crashed below that 1 billion mark and hangs at about 940 million, ranking it the 76th biggest asset overall. This drop hits even with fresh network moves. The BSCN crew on X spilled that the core team kicked off protocol upgrade v27 via Testnet2, aiming to switch over to mainnet by week’s end. ✨
“Among other things, this protocol transition upgrades Pi Node Docker to V27.1.0 and aims to ensure the stability of the network’s infrastructure and prepare for future developments such as integration with Pi Dex. This protocol transition represents a major step toward decentralizing the network,” the post reads.
Pi Network’s main X page still hasn’t backed the upgrade tho.
Could A Bounce Hit Soon? 💀
Things look pretty dark for PI at first glance yet some analysts spot a possible turnaround path. Crypto With Gopal on X called out a double bottom forming with price clinging to the 0.075 to 0.085 support area and showing higher lows lately. 👀
“A clean reclaim above 0.10 could confirm bullish momentum and open the path toward the 0.14 target. Bulls are slowly regaining control after the prolonged downtrend,” he maintained.
PI’s RSI backs this vibe too since it dipped into oversold territory at 23, hinting at an incoming recovery move. The scale goes from 0 to 100 and anything past 70 usually flags a correction ahead. 📉
Bulls might be creeping back in control fr while the token claws out of this rut. 🚀 Lmao the oversold levels got me watching close. 😏
Just another echo from the void by iconofsin.eth 💖
