Is the Worst Over for Pi Coin? Expert Reveals Key Support Level and Recovery Timeline

Pi coin price has seen a steep decline, falling more than 80% since reaching its peak of $2.90 in February. With Pi now trading at around $0.48, many people are starting to feel discouraged about the future of Pi Network. But according to a well-followed analyst, there is still a good chance the price will not fall much further.

Dr Altcoin, a popular Pi Network analyst with more than 46,000 followers on X, has explained why he does not think Pi coin price will drop below $0.40. He says that the Pi Core Team, which controls 90% of the total PI supply, has a strong reason to keep the price above this level.

PI Price Chart

If Pi price fell under $0.40, it could cause the project’s market cap ranking to slip out of the top 30. That would make Pi Network look riskier to investors and could hurt its momentum in the market. Because of this, Dr Altcoin believes the Pi Core Team will do everything they can to support Pi price above $0.40.

When Could Pi Price Start Rising Again?

The same analyst also shared his thoughts on when the Pi coin price might start to recover. He said that Pi price is likely to stay around the $0.40 range until the end of August. After that, he expects it will begin to rise gradually.

According to him, this will happen because Pi unlocking, the process of releasing new PI coins into circulation, will start to slow down. With fewer coins hitting the market, selling pressure could ease, making it easier for Pi price to climb again.

Read Also: 3 Big Things That Could Happen If RLUSD Launches on Cardano

While Pi coin has faced a brutal drop, some experts believe the worst could soon be over. If the Pi Core Team can keep the price from falling below $0.40, and if the rate of unlocking slows as expected, Pi coin could begin a slow recovery in the months ahead. For those watching Pi Network price closely, the end of August could be a key turning point.

Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.

intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Sarah Wurfel
Sarah Wurfel

Sarah Wurfel works as a social media editor for CaptainAltcoin and specializes in the production of videos and video reports. She studied media and communication informatics. Sarah has been a big fan of the revolutionary potential of crypto currencies for years and accordingly also concentrated on the areas of IT security and cryptography in her studies.

CaptainAltcoin
Logo