Pi Network big dump 90%! Will Pi coin continue to fall or迎來驚天 Rebound?

The price of Pi Network (PI) has recently fallen to a historical low of 0.3350 USD, having experienced a big dump of over 90% from its all-time high, making it one of the worst performing tokens in the crypto market. Investors are following whether this wave of decline will continue or if Pi coin is about to see a technical Rebound.

Bearish Reasons: Supply and Demand Imbalance and Weak Fundamentals

From a fundamental perspective, PI coin faces multiple downward pressures:

Trading volume shrinks: The 24-hour trading volume is only $71.6 million, far lower than similar tokens, indicating weak market demand.

Token dilution: It is expected that 1.22 billion Pi will enter circulation over the next 12 months, with an average of 32 million new coins added each month, resulting in significant supply pressure.

High concentration: The unverified foundation holds over 90 billion Pi, posing a risk of sell-off.

Lack of applications: The Pi Network currently has almost no mainstream applications, far from the early promise of "better than Bitcoin."

These factors combined mean that without significant positive catalysts, the price of PI coin may continue to be under pressure.

Bullish Reasons: Technical Patterns and Sentiment Reversal Potential

(Source: Trading View)

Despite the poor fundamentals, the technical indicators show that PI coin may have the conditions for a Rebound:

Double bottom pattern: A double bottom is formed around $0.400, which is a common bullish reversal signal.

Descending wedge: The price trend presents a descending wedge. If it breaks through the upper edge, it may trigger a rapid rise.

Wyckoff Accumulation Phase: Low trading volume and high volatility are consistent with the characteristics of the accumulation phase, preparing for a breakout.

If these patterns work, the PI coin is expected to break through the 1 dollar resistance level, rising more than 150% from the current price.

Potential Catalysts: Exchange Listing and Market Sentiment Reversal

Exchange Listing: If Pi coin lands on a major centralized exchange, it will bring liquidity and price discovery opportunities.

Market sentiment reversal: Currently, the sentiment towards PI in the market is extremely pessimistic. According to the investment logic of "be greedy when others are fearful," this situation often breeds a short-term Rebound.

Speculative capital influx: Similar to the short-term surges of undervalued assets like AMC and GameStop, Pi may replicate this trend when it has hype and catalysts.

Risks and Opportunities Coexist

Although the technical and emotional aspects provide the possibility of a Rebound, investors need to be cautious:

1. If the support at 0.3350 USD fails, the PI may further test the bottom.

2. If the rebound lacks fundamental support, the upward trend may be short-lived and accompanied by severe pullbacks.

Conclusion

Pi Network is currently at a critical turning point: weak fundamentals coexist with bullish technical signals. If a significant catalyst appears, Pi coin may welcome a short-term parabolic rise; however, if there is a lack of good news, the downtrend may continue. For investors, the key lies in closely following changes in trading volume, technical pattern breakthroughs, and market sentiment shifts. For more real-time market quotes and technical analysis on Pi Network, please follow the official Gate platform.