Sherpa

Solana

Roller

Altcoin

<p>Pi Network’s native token experienced heightened volatility over the past several days, driven by excitement about an upcoming ecosystem event and broader market dynamics.</p>
<p>Solana’s SOL plunged 10% on a weekly basis and risks further declines, while Zcash (ZEC) lost its prestigious spot among the ten largest cryptocurrencies.</p>
<h2 id="pi-s-roller-coaster">PI’s Roller Coaster</h2>
<p>The token has been in a steep downfall over the last few months, and its condition worsened at the start of November, when it <a href="https://cryptopotato.com/pi-networks-pi-token-dumps-to-new-all-time-low-despite-big-events-coming-up/" rel="noopener noreferrer nofollow">tumbled</a> to a new all-time low of around $0.063.</p>
<p>Earlier this week, the higher-than-expected inflation in the US <a href="https://cryptopotato.com/bitcoin-price-tanks-again-as-september-us-cpi-data-tops-expectations/" rel="noopener noreferrer nofollow">poured</a> another cold shower on the cryptocurrency market, but instead of following the red wave, PI surprisingly headed north and <a href="https://cryptopotato.com/pi-network-pi-defies-the-latest-market-pullback-major-rally-ahead-or-bull-trap/" rel="noopener noreferrer nofollow">exceeded</a> $0.07. X account BSCN said the ascent appeared technical as the token emerged from an oversold situation, along with a small increase in open interest for derivatives contracts.</p>
<p>The team also focused on the upcoming Ecosystem Summit, which may have sparked enthusiasm across the community. The three-day online event is set for November 17-19 and will <a href="https://cryptopotato.com/pi-network-announces-first-ever-ecosystem-summit-heres-what-pioneers-need-to-know/" rel="noopener noreferrer nofollow">feature</a> platform updates, developer-tool demonstrations, app showcases, and discussions between devs and the Core Team.</p>
<p>The resurgence was short-lived, and PI plunged below $0.07 again. As of press time, its market capitalization stands at roughly $790 million, making it the 82nd-biggest cryptocurrency.</p>
<h2 id="more-problems-for-sol">More Problems for SOL?</h2>
<p>Solana’s native cryptocurrency is down 25% for the month and is currently trading near $80. Numerous market participants have analyzed its performance lately, with X user Mookie <a href="https://cryptopotato.com/solana-sol-at-a-pivotal-moment-buy-the-dip-or-brace-for-another-crash/" rel="noopener noreferrer nofollow">saying</a> the price is nearing “a big test” at $78. In their view, holding this level could trigger “a good bounce,” yet losing it might result in a crash to as low as $63.</p>
<p>Meanwhile, the lack of institutional demand supports the bearish scenario. Spot SOL ETFs have been <a href="https://cryptopotato.com/ripple-xrp-etfs-turn-into-a-ghost-town-solana-sol-funds-keep-bleeding/" rel="noopener noreferrer nofollow">bleeding</a> heavily in the past several weeks, with the last day inflows exceeded outflows being October 21.</p>
<p>Of course, not everyone is pessimistic, as some analysts view the current conditions as a perfect buying opportunity. ZAYRO ₿, for instance, argued that SOL is nearing the end of its “manipulation” phase and is about to enter the distribution zone, where a major pump is expected. The analyst thinks “everybody will be crying about not buying” now, adding that Solana at these prices is “practically free money.”</p>
<h2 id="zec-s-slump">ZEC’s Slump</h2>
<p>The popular privacy coin is among the worst-hit cryptocurrencies after the latest correction, with its price nosediving 25% in the last week. Just a few days ago, it <a href="https://cryptopotato.com/zcash-zec-collapses-below-1000-can-the-bulls-fight-back/" rel="noopener noreferrer nofollow">fell</a> below $1,000 for the first time since the start of September and is currently worth $950 (per CoinGecko).</p>
<p>X user Altcoin Sherpa believes the ultimate bottom could arrive at the $800-$900 range, while Crypto Patel projected a potential collapse to the $200-$500 zone.</p>
<p><span>Meanwhile, Lookonchain recently revealed that a mysterious whale who previously opened a 10x long on 18,000 ZEC ($17.63 million) suffered a major loss of over $2.8 million (at least on paper). The entity also disclosed that the trader would be fully liquidated if ZEC collapses to around $895 (as it briefly did), unless they provide additional collateral to keep the position open.</span></p>
<p>The post <a href="https://cryptopotato.com/pi-network-pi-hit-by-volatility-solana-sol-braces-for-additional-sell-off-bits-recap-nov-13/" rel="noopener noreferrer nofollow">Pi Network (PI) Hit by Volatility, Solana (SOL) Braces for Additional Sell-off: Bits Recap Nov 13</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Pi Network (PI) Hit by Volatility, Solana (SOL) Braces for Additional Sell-off: Bits Recap Nov 13

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