- PI network has dropped over 85% from its peak but is forming a double-bottom around $0.40.
- Despite market pressure, the core team remains optimistic.
Pi Network’s native token, PI, is facing intense bearish pressure, with its price plummeting more than 85% from its peak of $2.995 just months ago. As of now, PI is trading around $0.4411, reflecting ongoing market pessimism amid rising token supply and cautious sentiment from analysts.
However, the Pi core team remains undeterred. In a recent update, the developers reiterated their confidence in the project’s long-term potential, emphasizing key achievements since the Open Network launch. They maintain that the recent price drop is part of a larger market cycle and believe a bullish trend could eventually emerge.
Pi Network Token Unlocks Add Pressure, but Technical Support Emerges
Part of PI’s recent weakness can be attributed to ongoing token unlocks, which are increasing supply and putting downward pressure on price. Yet, despite this headwind, a glimmer of hope may be forming on the technical charts.
According to TradingView data, PI has created a double-bottom formation near the $0.40 level—a classic bullish reversal signal. The Pi team believes this zone could serve as a strong demand area that might stabilize price and initiate a rebound.
Still, some analysts remain skeptical. They argue that unless stronger buying interest returns or token unlocks are better managed, any short-term bounce could be short-lived.
Confidence from the Core Team May Shape Sentiment
While market analysts offer mixed reactions, the Pi core team’s commitment to the long-term vision of the project could be a stabilizing force. The team is banking on continued development, ecosystem expansion, and community engagement to drive PI’s future recovery.
Their confidence alone may not lift the price in the immediate term, but it could shape investor sentiment and support the token’s eventual rebound.
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