Pi Network’s local token Pi Coin continues to lose blood by falling to $ 0.8 in the early hours. This increases concerns between investors and traders. Some analysts foresee more decreases for Pi Coin, despite the assurance of the Pi Network community. However, according to some, there is a light at the end of the tunnel.
How far will Pi Coin fall?
Kriptokoin.comAs you have followed, after years of development, delays and discussions, the Open Network of the project and the token was released on February 20. Given the important community size, Pi Coin attracted an increasing interest at first. In this process, the token price descended and came down for a few days. At the end of February, with the rise of PI up to $ 3, the highest level of all time, bulls seemed to have handled control.
However, since then everything went downhill. In the early hours today, Pi Coin fell to $ 0.8 (OKX) to the lowest per month. This means that its value has decreased more than 72 %since the summit recorded less than a month. Moreover, during the period when PI peaked, he approached to enter the 10 largest subcoin according to the market value, but now he’s fighting to stay in the top 30.
Crypto analysts in X do not see much hope for PI’s short -term price movements. Moon Jeff Ploting Analyst, thousands of followers, the token can fall up to $ 0.6 because this is the only support remaining, he said. However, Pi Coin could jump from this level and may rise to new summits in $ 5.
Andrew Griffiths was a little more optimistic and estimated that it would only fall to $ 0.75. Moreover, the analyst believes that this may be a suitable purchase opportunity because of the ‘falling wedge’ formation.
Hope or desperation for PI?
Pi News, an X channel of Pi Network, has released constant updates about the developments and partnerships of the project. Recently, he mentioned PI’s price movements and said that he could go north soon, but people should be able to participate in the construction of the PI ecosystem ‘. Some users see this as a promising explanation, while others believe it is an act of helplessness.
