Pi Coin (PI) Price Drops Below $0.8 After Failing to Hold Rally Toward Old High of $3

After failing to hold a rally toward its old high of $3, the price once again dropped sharply.

Pi Coin (PI) has been struggling to hold its gains and is now seen trading at lower prices. The coin failed to sustain a rally toward its previous high at $3.00 and dropped sharply once again.

After hitting a high of $1.67, the price of Pi Coin decreased to $0.77. When it was first listed, the coin started at $3.00 but quickly dropped to $0.60 on the same day. However, it managed to bounce back to $3.00 within 34 days.

This rapid rise created strong selling pressure as earlier investors quickly cashed out their tokens. For many, the $3.00 level seemed like a logical exit point, especially after the coin had previously fallen more than 80%.

As for the key price levels to watch, Pi Coin is currently facing immediate resistance at $0.94, $1.20, and $1.66. If the price breaks above these levels, the final bullish target in the short term remains at $3.00.

On the downside, the critical support to monitor is at $0.65 — if the price drops below this level, we can expect even steeper declines.

A large number of Pi tokens are also set to unlock in the coming days, which might add even more pressure on the coin:

These large unlocks could add extra pressure on the price, as newly available tokens might be sold on the market.

However, despite the price struggles, the Pi Network ecosystem seems to be growing at a fast pace. According to analyst Kim Wong, there are now over 100 Pi-based decentralized apps (DApps), with some already live on the Mainnet, some being tested, and others still in development.

Moreover, the recent launch of a $100 million Venture Fund is expected to help the growth of the Pi ecosystem even further.

The network now boasts over 70 million users globally, including 20 million KYC-verified users and 4.3 million X followers. Pi Coin is also listed on several exchanges and ranks #26 by market cap among all cryptocurrencies.