Pi Coin Drops 80% From Peak, Analysts See Floor at $0.40

Pi coin, the cryptocurrency associated with the Pi Network, has experienced a significant decline in value, dropping over 80% from its peak of $2.90 in February to its current trading price of around $0.48. This sharp decrease has left many investors feeling pessimistic about the future of the Pi Network. However, a prominent analyst, Dr. Altcoin, who has a substantial following of over 46,000 on X, offers a more optimistic perspective.

Dr. Altcoin believes that the Pi coin price is unlikely to fall below $0.40. He attributes this to the influence of the Pi Core Team, which controls 90% of the total PI supply. According to Dr. Altcoin, if the price of Pi were to drop below $0.40, it could cause the project’s market cap ranking to fall out of the top 30. This would potentially make the Pi Network appear riskier to investors and could hinder its market momentum. Therefore, Dr. Altcoin anticipates that the Pi Core Team will take measures to maintain the price above $0.40.

Regarding the potential recovery of Pi coin, Dr. Altcoin predicts that the price will likely remain around the $0.40 range until the end of August. He expects that after this period, the price will begin to rise gradually. This forecast is based on the anticipated slowdown in Pi unlocking, the process of releasing new PI coins into circulation. With fewer coins entering the market, the selling pressure could decrease, making it easier for the price to climb.

While the Pi coin has faced a substantial drop, some experts suggest that the worst may be over. If the Pi Core Team can successfully keep the price from falling below $0.40 and the rate of unlocking slows as expected, Pi coin could begin a slow recovery in the coming months. For those closely monitoring the Pi Network price, the end of August could be a pivotal moment.