Pi Network Price Drops 42% Over Skepticism Due to Mainnet Launch

Over the last 24 hours the value of Pi Network (PI) IOU declined by 42% because investors have started to doubt the scheduled mainnet launch for February 20. The public perception about Pi Network has weakened since investors believe it operates as a pyramid scheme. Market sentiment has shifted more negative because technical indicators show increasing sellers in the market. Market analysts predict additional price drops will occur if Pi Network fails to regain investor confidence. These essential points about this development are presented in the following table.

Pi Network Price Drop Overview

Aspect	Details
Current Pi Price Today	$72
24-Hour Decline	42%
Failed Support Level	$130
Next Key Support Level	$63
Potential Drop Target	$47
Investor Concerns	Possible pyramid scheme allegations
Technical Indicators	RSI downturn, declining Chaikin Money Flow
Recovery Possibility	If Pi Network price holds above $63 and rebounds
Key Resistance Level	$130
Market Sentiment	Bearish with high volatility