Pi Network Price Faces 37.5% Drop Risk Amid Bearish Sentiment

Pi Network, a cryptocurrency project that has garnered significant attention, is currently facing a challenging market environment. The price of Pi Network has been stuck around $0.64, struggling to break past the strong resistance level at $1. This resistance has been a significant barrier, preventing the coin from attracting fresh investor confidence. Many experts believe that until Pi Network crosses this barrier and climbs past $0.85, it will be tough for the coin to rally toward $1 or even $1.15.

According to analyst Dr. Altcoin, the price of Pi is expected to continue its downward trajectory until the end of August. This prediction is based on the current market conditions and the persistent bearish sentiment that has been dominating the market. Dr. Altcoin has been warning about Pi Network’s price situation for a while. In his latest comment, he mentioned that the token could possibly fall as low as $0.40 in the coming weeks. He said that one of the biggest problems holding Pi Network back is the lack of openness from the team behind the project. “No investor wants to put their money into something where the founders refuse to be transparent,” said Dr. Altcoin.

Despite these short-term struggles, Pi Network seems focused on building for the future. The project recently launched a $100 million Pi Network Ventures Fund aimed at supporting startups in AI, gaming, fintech, and e-commerce. The goal is to create real-world applications that use Pi cryptocurrency, which could eventually increase the coin’s value if it gains traction. This strategic move could provide some long-term benefits to the Pi Network ecosystem, enhancing the utility and liquidity of Pi.

In summary, the Pi Network is currently facing a challenging market environment, with a strong bearish sentiment dominating the market. According to analyst Dr. Altcoin, the price of Pi is expected to continue its downward trajectory until the end of August, potentially revisiting the $0.40 level. The strategic partnership between WrappedPi and PicakeSwap could provide some long-term benefits to the Pi Network ecosystem, but its immediate impact on the price of Pi remains uncertain. The lack of transparency from the Pi Core Team is a significant concern, and until this issue is addressed, the price of Pi may continue to face downward pressure.