In the volatile world of cryptocurrencies, the market never ceases to surprise us. Recently, two major players, Dogecoin and Pi Network, have been making headlines for different reasons. Let's delve into the details of Dogecoin's big intraday drop and the latest news about Pi Network.
On July 15th, the cryptocurrency market witnessed a collective plunge, and Dogecoin was hit hard. During the trading session, Dogecoin's price dropped by more than 8% at one point. By 22:00, it still had a decline of over 6%. This significant drop was part of a broader market downturn where Bitcoin also saw a盘中跌幅一度超过5%.
The data further reveals that within the past 24 hours, the total number of contract liquidations across the entire cryptocurrency market exceeded 130,000, with a total liquidation value of $493 million. Among them, long - position liquidations accounted for $393 million, and short - position liquidations were nearly $100 million. This massive liquidation indicates high market volatility and the risks associated with leveraged trading in the crypto space.
FAQ: What could be the main reasons for Dogecoin's sudden drop? There could be multiple factors. Market sentiment plays a huge role. A negative overall market sentiment can lead to a sell - off of various cryptocurrencies, including Dogecoin. Also, macro - economic factors, regulatory news, or large - scale institutional selling could contribute to such a sharp decline.
Pi Network has been a hot topic in the cryptocurrency community due to its unique "zero - cost mobile mining" concept and a large user base of 60 million. In 2025, its price has experienced significant fluctuations.
Back in March 2025, after the mainnet launch, Pi Network's price once soared above $2.2 but then pulled back to $1.92, with a more than 15% decline in 24 hours. As of June 18th, its price was $0.5589, with a 4% drop in the past 24 hours, approaching its historical low. This decline has raised concerns among investors.
One of the key factors contributing to the price drop is the upcoming token unlock event. It is estimated that 337 million PI tokens will be released in the next 30 days, with a total value of approximately $185 million. The influx of such a large number of tokens into the market may create selling pressure, especially when buyer interest is low.
However, there are also positive outlooks. Cryptocurrency analyst Dr. Altcoin believes that the recent adjustment of Pi Coin to around $0.4 may have formed a final bottom. With the expected reduction in the number of unlocked Pi tokens, the selling pressure may weaken, potentially paving the way for a price increase.
FAQ: Is it a good time to invest in Pi Network? This is a tricky question. While the potential for price increase exists if the selling pressure eases and the market conditions improve, there are still risks. The large - scale token unlock and the lack of liquidity in the market are concerns. Also, regulatory risks in the cryptocurrency space are always present. It's crucial to DYOR (Do Your Own Research) before making any investment decisions.
In 2025, Pi Network achieved a significant milestone by officially listing on centralized exchanges like Gate, enabling transparent trading. As of the end of June, the PI/USDT trading pair was hovering around $0.55. The price fluctuations are mainly due to two factors. Firstly, early miners who started mining in 2019 have been cashing out their profits after the mainnet launch, leading to a sudden increase in supply. Secondly, the fact that major exchanges like Binance have not yet listed PI tokens restricts the inflow of funds, limiting the market liquidity.
Despite the price challenges, Pi Network has shown strong growth in other aspects. In the second quarter of 2025, it witnessed remarkable progress in several key indicators. The daily active user count has exceeded 5 million, a 150% increase compared to the same period last year. Additionally, the number of smart contracts on the network has reached 100,000, an 80% increase from the previous quarter, indicating a thriving developer community.
Some experts predict that if Pi Network can expand its user base to over 100 million and further improve its ecosystem, Pi Coin may have the potential to reach the $100 mark. However, it must also be cautious about the risks of insufficient liquidity and regulatory uncertainties.
The cryptocurrency market is highly unpredictable, as demonstrated by Dogecoin's big intraday drop and the complex situation of Pi Network. For investors, it's essential to stay informed about the latest market trends, understand the underlying factors driving price movements, and manage risks effectively. Whether Dogecoin can recover from its slump and whether Pi Network can fulfill its potential remains to be seen. As always, in the world of cryptocurrencies, one should approach with caution and make well - informed decisions.
As the market continues to evolve, we will keep a close eye on these two cryptocurrencies and bring you the latest updates. Stay tuned for more insights into the exciting world of digital assets.
