Pi Network Token Slides Nearly 30% Around March 14 as Long Squeeze Wipes Out Stellar-Based Rally

Pi Network's Pi token, which uses a fork of the Stellar Consensus Protocol, dropped nearly 30% in the last 24 hours to around $0.193 after recently touching $0.2978 on March 13. The sell-off followed its listing on Kraken and is attributed to a long squeeze that erased gains from a rally that began in mid-February, with key technical support now seen near $0.174 and the 50-day moving average.