Pi Network News: Price Hits New All-Time Low as Selling Pressure Increases

Pi Coin has hit a new all-time low, falling to $0.34. The continued unlocking of new tokens every month has added to the pressure, making it difficult for the price to hold steady. While many altcoins saw gains last week, Pi Coin continues to lag behind.

One analyst has warned that Pi Coin could be facing a 40% crash if it fails to hold its current support. This prediction comes after the price broke below a key bearish triangle pattern, with the upper resistance previously near $0.74 and support around $0.44. Now that sellers have pushed the price below $0.44 Pi may fall further to around $0.26, setting a new all-time low.

The main reason for this weak performance is Pi Coin’s inability to move above its 50-day Simple Moving Average (SMA). Staying under this level has allowed sellers to take control of the trend, while buyers remain cautious, waiting for a clearer bullish signal.

Adding to the pressure, centralized exchange (CEX) balances are rising, which usually means that more traders are preparing to sell. This shift has made the short-term outlook for Pi Coin even more bearish.

However, there’s still a chance for a bullish turnaround. If Pi Coin can regain the 50-day SMA and trading volume increases, it might signal fresh buyer interest. That could push the price back toward $0.74 or more in the coming weeks.

The broader crypto market is also reacting to global news. According to Dr. Altcoin, this sudden dip may have been caused by large holders (whales) reacting impulsively. He expects the price to bounce back above $0.40 soon, calling the dip a “buying opportunity.”

In fact, not all activity is negative. A whale recently accumulated $148 million worth of Pi Coin, withdrawing millions of tokens from exchanges like OKX, Gate.io, and MEXC since April. While the buyer’s identity is unknown, this large move has caught the attention of the market and sparked speculation.