Pi Coin Price Dips 12%: Investors Await Key Updates Amidst Delay

Pi Coin, the native cryptocurrency of Pi Network, has been under intense selling pressure as its price dips by another 12%.

The price of Pi Coin (PI) has continued its downward trend, dipping by another 12% over the past 24 hours. The coin is currently trading at $0.81, marking a 28% decline over the past week.

As the dust settles on the recent market turbulence, investors are keeping a close eye on Pi Network as it navigates new partnerships and faces persistent inquiries from the community regarding the mainnet launch, major exchange listings, and the Pi Domain auction.

The core team has come under scrutiny for the lack of transparency and clear updates, especially with the network’s price plummeting from highs of $3 to its current level of $0.82.

The inability of the team to quickly respond to queries and provide needed updates has also led to a decrease in confidence among investors, who are becoming increasingly anxious.

Originally envisioned as a decentralized cryptocurrency, Pi has also begun partnerships with large corporations, focusing on transaction speed and efficient throughput.

This shift in strategy has sparked debate among community members, who are concerned about the platform’s original values and whether it can strike the right balance between centralization and its decentralized ethos.

However, despite the recent downturn, some analysts believe that Pi Coin could still recover. Crypto analyst Moon Jeff has suggested that Pi Coin could drop to as low as $0.60, the last significant support level, before bouncing back.

Jeff remains optimistic about a potential rebound, forecasting a rally that could push Pi’s price to $5 in the coming months.

On a similar note, Dr. Altcoin, a prominent community member, shares an optimistic outlook, encouraging long-term holders to remain patient. “Let’s HODL and buy both patience and Pi while they’re still available,” he advised, hinting at a potential price surge to $3.14 or even $10 within the near future.

Moreover, reports have surfaced suggesting that Pi Coin may soon be listed on the Upbit exchange, which could provide the liquidity boost needed to catalyze a recovery.

Key Levels to Watch:

As Pi Coin approaches the critical juncture of $0.60, the last substantial support level, the upcoming weeks will be pivotal in determining whether the coin can stage a comeback from the recent downturn.