- PI is down over 85% from its all-time high of a few months ago.
- Bear pressure persists for Pi with a potential to continue in the short term.
- The Pi core team foresees a bullish trend in the long term.
In the face of ongoing market uncertainty and a steep decline in its token value, the Pi core team has reiterated its confidence in the blockchain project as a top industry player. In its latest publication, the team highlighted Pi Network’s fundamental achievements, making optimistic projections about the Pi Coin’s future amid mixed reactions from analysts.
Will PI’s double-bottom hold amid token unlocks?
At press time, the TradingView’s data showed that Pi traded at $0.4411, reflecting a massive 85% decline from its all time high of $2.995, which was achieved shortly after its Open Network rollout earlier this year. Despite the significant price decline, the Pi core team has identified a potentially positive signal, which it believes could trigger a price reversal soon.
Notably, PI established a double-bottom pattern around the $0.4 price level, which the team identifies as a potential demand region. However, analysts are less enthusiastic with the blockchain token’s bullish potential as the Pi team referenced a prediction that an upcoming token unlock could drive the price down by 30%, which would release about 276 million Pi tokens that represents nearly 3.7% of circulating supply, which would add selling pressure through July.
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What analysts think about PI?
In the meantime, downward pressure continues to accumulate for PI as technical analysts focus on the $0.4 support. Breaking below this level could trigger further price decline for the cryptocurrency, which could be compounded by increased token supply from mobile mining, which could further dip the price to $0.35 price region by August.
In any case, July remains an uncertain month for PI’s price, considering the varying predictions from analysts, which range between $0.31 and $0.45, underscoring the uncertainty ahead. However, the crypto asset’s future could depend on the broader crypto market trend and its native token supply dynamics.
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Despite skepticism around transparency, tokenomics, and exchange listings, some analysts highlight that Pi’s rigorous KYC protocols and bundled compliance features offer credibility rarely seen in analogous projects.
Nevertheless, the Pi core team remains optimistic for the long term, wherein its future depends not on short-term price spikes but on ecosystem growth and infrastructure. According to the publication, the team projects a return of bullish momentum that would see PI trade between $0.55 and $3 from 2026 to 2030, underscoring the belief in structural value and strategic momentum.
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