TLDR
- Pi Coin’s correlation with Bitcoin has dropped to 0.52, failing to benefit from Bitcoin’s recent surge to new all-time highs
- Investors continue exiting the Pi Network as the price hovers at $0.40, close to its all-time low of $0.32
- Pi Coin has gained 19% weekly and 7% daily, pushing past the $0.40 mark despite bearish sentiment
- Analyst Dr Altcoin plans to accumulate 100,000-150,000 Pi coins over 2-3 years, citing the project’s six-year development period
- Next support level sits at $0.36, with potential upside target at $0.44 if current support holds
Pi Coin price trades at $0.40 as investors show mixed signals about the cryptocurrency’s future prospects. The token has gained 7% in recent trading sessions, extending weekly gains to 19%.
Despite these gains, Pi Coin remains well below its monthly high of $0.5193 and far from its all-time high of $2.98 recorded in February. The cryptocurrency has lost approximately 80% of its value since the February peak.
The correlation between Pi Coin and Bitcoin has weakened to just 0.52. This decoupling proves concerning as Bitcoin recently formed new all-time highs within the past 24 hours.
Pi Coin’s failure to align with Bitcoin’s bullish momentum suggests investor confidence may be declining. The cryptocurrency struggles to find direction as the broader crypto market rallies.
Data shows investors continue exiting the Pi Network over recent days. This trend intensifies as Pi Coin moves closer to its all-time low of $0.32.
The ongoing exits reflect growing pessimism among holders. Many investors are losing interest as the price approaches previous lows.
PI Network Price Prediction
Trading volume for Pi Coin fell 25% to $73 million despite the recent price gains. The cryptocurrency currently attempts to hold the $0.40 level as support.
If Pi Coin fails to maintain current support, the next level sits at $0.36. A break below this point could push the price back toward the all-time low of $0.32.
However, a successful bounce from $0.40 support could target $0.44. This move would require increased buying pressure and improved investor sentiment.
Market critics have labeled Pi Network a failed project due to the declining token value. The lack of listing on tier-1 exchanges like Binance has contributed to selling pressure.
Long-Term Perspective from Community
Pi Network enthusiast Dr Altcoin offers a contrasting view of the project’s prospects. He highlights the six-year development period as evidence of the team’s commitment.
Dr Altcoin plans to accumulate between 100,000 and 150,000 Pi coins over the next 2-3 years. This represents part of his five-year holding strategy.
The analyst points to security features including Know Your Business compliance for centralized exchanges. He also cites the AI App Studio and $100 million fund invested in projects like OpenMind.
Dr Altcoin believes Pi Coin’s value will emerge through ecosystem growth rather than short-term price movements. He has redirected monthly pension contributions to weekly Pi investments.
Pi Network maintains hope among millions of pioneers despite recent price weakness. The project focuses on long-term stability rather than short-term hype.
Pi Coin price currently trades at $0.40 with investors exiting the network as Bitcoin correlation weakens to 0.52.
