Pi Network Price Prediction: $0.6280 Support or $0.40 Freefall?

Pi Network (PI/USDT) dips to $0.6280 amid centralization concerns and selloffs. Can it avoid a 40% drop?

Quick overview

  • Pi Network (PI/USDT) is currently trading at $0.6280, facing potential further decline amid investor concerns.
  • Analyst Dr. Altcoin warns of a possible drop to $0.40 by August due to transparency issues with the project's founders.
  • The Pi Foundation holds over 90 billion tokens, raising centralization concerns and limiting exchange listings.
  • Technical indicators suggest a bearish trend, but a potential reversal could occur if certain bullish patterns emerge near the $0.6052 support level.

Pi Network (PI/USDT) has reached a crossroads, trading at $0.6280 after a significant drop, and investors are getting nervous. Leading crypto analyst Dr. Altcoin is warning of a potential drop to $0.40 by August, which would be 40% below today’s price. Why? Ongoing transparency issues with Pi Network’s founders, Nicolas Kokkalis and Chengdiao Fan.

Despite being a supporter of the project in the past, Dr. Altcoin has turned critical, saying: “No one wants to put money into something where the founders won’t be transparent.”

This sentiment is echoed across the crypto community, killing adoption and trust.

Adding to the concerns is Pi’s concentrated token structure. Over 90 billion tokens are held by the Pi Foundation across more than 2,000 wallets, raising concerns about centralization. This has led to top exchanges, such as Binance and Coinbase, not listing Pi, thereby limiting liquidity. And to make matters worse, a flood of unlocked tokens—272 million in June and 1.53 billion over the next year—is putting more selling pressure.

  • Pi Foundation controls 90+ billion tokens
  • 272 million tokens unlocked this month
  • Exchange supply rose by 3 million tokens in the last 24 hours

Pi Network Technicals Say It’s a Make-or-Break Level

The technicals aren’t looking good either. On the 4-hour chart, PI/USDT is confined within a descending channel, characterized by lower highs and lower lows. The 50-period EMA at $0.7225 has turned from support to resistance, capping the bounce.

Pi Network Price Prediction: $0.6280 Support or $0.40 Freefall?
Pi Network Price Prediction: $0.6280 Support or $0.40 Freefall?

The MACD bearish crossover, where the MACD line dips below the signal line with deep red histograms, confirms the downside momentum. But there’s a glimmer of hope. The recent low at $0.6052 is a potential reversal zone.

If Pi prints a bullish reversal pattern, such as a Hammer or Morning Star, near this level, backed by MACD convergence, we could see a short-term bounce to $0.6585 or even $0.7054.

Key levels to watch:

  • Support: $0.6052, $0.5536
  • Resistance: $0.6585, $0.7054, $0.7225

Bottom Line: Patient or Prepare for the Fall

Wait for confirmation – a strong bullish candle near $0.6052, rising volume, and MACD convergence – before going long. Without those signals, the technicals are bearish, and Dr. Altcoin’s $0.40 warning is in play.

The way forward depends on whether Pi Network can fix its transparency issues and regain the community’s trust. Until then, the risk of a 40% drop is there, but keen-eyed traders might spot a textbook bounce near support.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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