Pi Coin Slides, But Signals Hint at Potential Rebound
Pi Coin is showing signs of life despite a sharp sell-off that’s dragged the token down around 5% today and more than 75% from its May high of $1.65.
Pi Coin is showing signs of life despite a sharp sell-off that’s dragged the token down around 5% today and more than 75% from its May high of $1.65.
The drop has caught the attention of traders after volume unexpectedly climbed 11% to $90 million — a spike that came on the heels of fresh ecosystem updates revealed during the Pi Day 2 event.
While momentum has clearly weakened over recent weeks, some technical analysts argue that Pi may be entering a reversal phase. Chart watchers have identified a possible double-bottom formation near the $0.40 level — a structure that, if confirmed, could trigger a move toward the $1 mark. A breakout above that level could open the door for a run back to May highs and even stretch toward $2.90.
Adding weight to the bullish case is a falling wedge formation, typically a precursor to upside breakouts. With price action narrowing, and volatility shrinking — as seen through indicators like Bollinger Bands and ATR — the setup is in place for a potential rally.
But price action isn’t the only factor stirring hope. The Pi Network team’s latest updates have caught attention, particularly the introduction of Pi AI Studio — a framework for building AI apps on the network. Combined with tools like the Pi Wallet, the .pi domain system, a 13-million-strong KYC-verified user base, and Pi’s advertising network, the ecosystem is gradually expanding.
Further momentum could come from Pi’s new Directory Staking model and a $100 million fund aimed at accelerating app development. If macro tailwinds arrive — including a renewed Bitcoin surge — Pi Coin may ride the wave of broader altcoin enthusiasm.
Still, bulls remain cautious. A breakdown below $0.4047 would invalidate the bullish setups and raise the risk of further downside.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
