PI (Pi) fell 8.12% in the last 24 hours.

Gate News Bot news, on September 1st, according to CoinMarketCap data, as of the time of writing, PI (Pi) is currently priced at $0.36, having fallen by 8.12% in the past 24 hours, with a high of $0.40 and a low of $0.33. The current market capitalization is approximately $2.841 billion, a decrease of about $251 million from yesterday.

Pi is a digital currency that can be mined on mobile phones. Its groundbreaking technology allows users to mine Pi on their phones without draining the battery. The Pi Network aims to make cryptocurrency mining simple, with minimal power consumption, being more friendly to both users and the planet. The project emphasizes decentralization, mobile-first, and ease of use, trying to involve more people in the cryptocurrency revolution.

Important news about PI recently:

1️⃣ Short-term market sentiment fluctuations lead to price corrections

PI has experienced a significant fall of 8.12% in the past 24 hours, retreating from a previous high of $0.40 to $0.36. This pullback may reflect short-term fluctuations in the overall sentiment of the cryptocurrency market, and as one of the tokens with a large market capitalization, PI finds it difficult to remain unaffected.

2️⃣ The price remains relatively stable after adjustment.

Despite the pullback, the current price of PI remains around $0.36, approximately equal to the level on August 29. This indicates that despite short-term fluctuations, PI still maintains a certain price resilience, likely benefiting from its stable user base and unique mobile mining model.

3️⃣ market capitalization ranking remains at the forefront, demonstrating the project's strength

The current market capitalization of PI is approximately $2.841 billion, which has fallen compared to the previous day, but it still ranks among the top in the cryptocurrency market capitalization leaderboard. This market cap reflects the important position of the PI project in the cryptocurrency ecosystem and the confidence of investors in its long-term development prospects.

From a technical perspective, PI is currently finding support around $0.33. If it can hold this level, it may attract more buying interest. However, considering the high volatility of the cryptocurrency market, investors still need to closely monitor potential further downside risks.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.