Pi Network Price Drops 80% From All-Time High

The Pi Network price has experienced a significant decline, falling to $0.5873 on Monday from its all-time high of $3. This drop has disappointed many pioneers who have spent over six years mining the coin. However, despite the current slump, the token's key metrics and potential developments suggest that this could be an opportune moment to invest in Pi coin for long-term gains.

Several factors indicate that the Pi Network could see a substantial increase in value in the coming months. Firstly, from a macroeconomic perspective, there is a possibility that Donald Trump will engage in negotiations with other countries to prevent a stock market crash. This could create a favorable environment for cryptocurrencies, including Pi coin. Secondly, the popularity of Pi Network is likely to attract more centralized exchange (CEX) companies to list it, potentially driving up its value. Exchanges like Binance, Upbit, and Coinbase may be interested in listing Pi Network due to its high trading volume.

Additionally, the Pi Network may soon address the issue of token dilution. With over 1.5 billion tokens set to be released in the next 12 months, the Pi Foundation may decide to burn a significant number of tokens to control the supply. This could lead to an increase in the value of the remaining tokens. Some of the tokens to be burned may come from pioneers who have not yet migrated their tokens to the mainnet.

Technical analysis also supports a bullish outlook for Pi Network. The token has been forming a falling wedge pattern, which is a popular bullish signal. Its two lines of this wedge pattern are nearing their merging point, where breakouts typically occur. Furthermore, the value of Pi is slowly forming a bullish pennant chart pattern, which is a continuation sign. This pattern suggests that the token could rise to the psychological point at $1, followed by $1.8105, the 50% Fibonacci Retracement level. The final target is 200% above the current level. However, a crash below this month’s low of $0.4156 would cancel the bullish forecast and point to more downside, potentially to $0.3500.

In summary, the Pi Network's strong technicals and fundamentals, such as potential exchange listings and macroeconomic factors, make this a golden period to buy Pi Network. The most likely scenario is where the Pi Network token rises to the 50% retracement level at $1.8100. Some of the centralized exchanges that may list the Pi Network token are Coinbase, Binance, and Upbit.