Pi Network's Price Drops 71% From All-Time High, Traders Eye Rebound

Pi Network's price has experienced a significant decline, dropping by 71% from its all-time high near $3. This has led to speculation among crypto traders about whether the altcoin remains a viable investment. Despite the recent downturn, investing up to $15,000 in Pi Coin could yield substantial returns if the token resumes an upward trajectory.

At the time of reporting, Pi Coin was trading at $0.836, following a 9.6% decline over the past 24 hours. The token has shown considerable volatility in the last week, with prices fluctuating between $0.82 and $1.19. However, despite this recent drop, Pi Network's price is still up by 36% from its all-time low of $0.61, which was recorded about a month ago. This indicates that traders who purchased the dip last month are currently enjoying gains.

Investing $1,000, $10,000, or $15,000 in Pi Network tokens at $0.90 could deliver significant returns if the price reaches an all-time high above $3. For instance, buying $1,000 worth of Pi Coin at $0.90 would yield 1,111 tokens. If the price recovers to $3, the investment would be worth $3,333, marking a 233% return. Similarly, a $10,000 investment at $0.90 would result in 11,111 tokens, which would be worth $33,333 if the price reaches $3, representing a nearly 3.5x return on investment. An even larger investment of $15,000 would result in 16,666 tokens, which would be worth $50,000 if the price rebounds past $3, also a 233% return on investment.

A 233% return on investment has been achieved before with Pi Coin. In the last week of February, the price of Pi Network jumped from $0.66 to $2.91 within days, providing traders who bought at the time with a 340% return on their investment.

Several analysts believe that the price of Pi Network could rebound from its recent dip. One analyst noted that on a major exchange, 72% of traders have taken long positions on Pi Coin, indicating a bullish sentiment. Popular analyst Kim Wong shared a bullish prediction, stating that after the initial boom and bust, Pi Coin is expected to trade as a regular cryptocurrency and is waiting for news to drive its price. He also mentioned that it is still a unique cryptocurrency with significant potential and advised that it is a good time to keep buying and holding.

A recent article also revealed significant ecosystem growth after the Pi Network domain auction secured more than 200,000 bids, demonstrating high market interest. Amid these developments, it is possible for the price of Pi Network to recover above $3, delivering significant returns to holders.

The 4-hour price chart of Pi Network indicates that the coin may have hit a local bottom due to the oversold RSI standing at 30. Historical trends show that Pi Coin has bounced back with a strong candle every time the RSI indicates oversold conditions. The falling broadening wedge pattern also suggests that a bullish reversal is likely to occur. If the coin can flip resistance at $0.95, it could spark a rally to the 423.6% Fibonacci level of $3.50. This technical setup shows that the price of Pi Network could rebound past $3. Therefore, a trader who buys $1,000, $10,000, or $15,000 worth of Pi Coin today could potentially achieve a 233% return on their investment. However, traders should remain cautious as the broader crypto market is still experiencing volatile price movements.