The Pi Network (PI) Price Drops More Than 6%, Raising Concerns Within Its Growing Community

The price of Pi Network (PI) has dropped more than 6% in recent days, raising concerns within its growing community. Despite the recent dip, some analysts believe a short-term recovery might be possible, as the token holds support around the $0.50 mark.

As the price fell below $1, many long-time Pi supporters started to lose hope and decided to sell their tokens. However, some remain hopeful about Pi’s long-term future, especially considering the project’s unique features and potential.

Analyst’s Bullish Long-Term Pi Network Price Prediction

Crypto analyst Dr. Altcoin, recently shared his views, saying, “Many gave up when Pi dropped below $1. I didn’t — and I won’t. My time zone is five years, and I clearly see 1 Pi reaching $314 one day.”

This price prediction faces skepticism, with critics noting a $314 price implies a $31 trillion-plus market cap based on a 100 billion token supply. However, Dr. Altcoin counters that the effective circulating supply will likely be far lower, perhaps around 20 billion Pi due to factors like KYC compliance.

“A more realistic scenario is an effective supply of 20 billion Pi — putting the cap at 6.3 trillion dollars,” he said. Strict KYC rules, scalable technology with over 200,000 active nodes, and a fast, eco-friendly blockchain could position Pi as a unique project in the crypto space.

What’s Next for Pi Price Technically?

Today’s price action shows a mixed technical picture. The token holds above the key $0.50 support. If this level holds firm, a short-term bounce targeting the $0.60 range is possible for the Pi price.

The next major hurdle sits between $0.80 and $1.55, with a crucial resistance at around $1.23. Breaking past the $0.65 point of control could open the door for a stronger rally.

Trading volume has increased, which usually means heightened market activity. However, higher volume isn’t always a sign of buying — it often reflects increased selling pressure too. The Relative Strength Index (RSI) currently sits at 41, placing Pi in oversold territory, which could mean a short-term recovery is possible.

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