Pi Network Price Stabilizes Above $0.40 Amid Core Team Control

The Pi Network has experienced a steady decline in its price over the past few months, dropping from a high of $2.79 to around $0.49. This downturn has left many holders and miners concerned about the potential for further declines. However, according to expert Dr. Altcoin, the Pi Network price is unlikely to fall below $0.40 in the near future. The primary reason for this optimism lies in the control that the Pi Core Team (PCT) exerts over the supply of Pi tokens.

The Pi Core Team holds approximately 90% of the total Pi tokens, giving them significant influence over the market. This control allows them to manage the release of tokens into the market, thereby preventing drastic price drops. A price fall below $0.40 could negatively impact the coin's image and market rank, potentially pushing Pi out of the top 30 crypto rankings. Such a drop would make the coin less attractive to investors and traders, which the Pi Core Team is likely to avoid.

Dr. Altcoin, a prominent figure in the crypto community, has expressed confidence that the Pi Core Team will take necessary actions to prevent the price from falling below $0.40. These actions could include slowing down token unlocks or making strategic announcements to stabilize the market. The Pi team's ability to manage the market through controlled token releases and timely ecosystem updates has been demonstrated in the past, further bolstering this confidence.

Moreover, the implications of a price drop below $0.40 extend beyond just the traders. It could significantly harm the entire project's reputation, potentially leading to a loss of interest from big investors, developers, and ecosystem partners. Maintaining a stable price is crucial for the Pi Core Team to ensure the project's long-term success and attractiveness to stakeholders.

Looking ahead, according to chart patterns, Pi's price is expected to remain within the range of $0.40 to $0.70 until the end of August. As the number of new tokens entering the market decreases, the price could start to rise gradually. However, unless there is a significant announcement or a sudden surge in market interest, no major price jumps are anticipated in the short term. This cautious outlook reflects the current market dynamics and the strategic measures being taken by the Pi Core Team to stabilize the price.