Pi Network's PI Token Remains Bullish Despite 97% Value Crash

Pi Network's PI token has been struggling to gain traction in the market, despite its strong bullish sentiment from the crypto community. Over the past year, PI has plummeted by 97% from its historical peak of $3 to a current price of around $0.08.

This slump is quite staggering, especially considering that many other altcoins have seen significant gains over the same period. However, the sentiment surrounding PI remains overwhelmingly optimistic, with CoinMarketCap ranking it as the second-highest bullish token in the market.

The team behind Pi Network has been working on various ecosystem improvements, including a recent migration to protocol version 25 and an upcoming upgrade to protocol v26. Node operators must complete this upgrade by August 11 to remain connected to the network.