The Pi Network token has experienced a significant crash, dropping from above $3 to just $0.6344.
The Pi Network project faced skepticism due to its questionable mining model and lack of transparency.
The manipulated launch spike saw the token briefly reaching heights above $3, with suspicious price action.
Various factors like unsustainable tokenomics, lack of real use cases, and regulatory concerns contributed to the crash, leading to a bearish outlook for Pi Coin.