- Pi token drops 6%, holds support near $0.50 for now.
- Analyst predicts $314 future; others question circulating supply assumptions.
- Technical charts show mixed signals; RSI indicates oversold conditions.
The Pi Network price has dropped more than 6% in recent days, raising concerns within its growing community. Despite the dip, some analysts believe a short-term recovery might be possible, as the token holds support around the $0.50 mark.
As the price fell below $1, many long-time Pi supporters started to lose hope. However, some remain hopeful about Pi’s long-term future.
Analyst’s Bullish Long-Term Pi Network Price Prediction
Crypto analyst Dr. Altcoin, recently shared his views, saying, “Many gave up when Pi dropped below $1. I didn’t — and I won’t. My time zone is five years, and I clearly see 1 Pi reaching $314 one day.”
This Pi Network price prediction faces skepticism, with critics noting a $314 price implies a $31 trillion-plus market cap based on a 100 billion token supply. However, Dr. Altcoin counters that the effective circulating supply will likely be far lower, perhaps around 20 billion Pi due to factors like KYC compliance.
Related: Banxa Secures KYB Approval, Unlocks Pi Network Access in 100+ Countries
“A more realistic scenario is an effective supply of 20 billion Pi — putting the cap at 6.3 trillion dollars,” he said. Strict KYC rules, scalable technology with over 200,000 active nodes, and a fast, eco-friendly blockchain could position Pi as a unique project in the crypto space.
What’s Next for Pi Price Technically?
Today’s Pi price action shows a mixed technical picture. The token holds above the key $0.50 support. If this level holds firm, a short-term bounce targeting the $0.60 range is possible for the Pi price.
The next major hurdle sits between $0.80 and $1.55, with a crucial resistance at around $1.23. Breaking past the $0.65 point of control could open the door for a stronger rally.
Related: Is Pi Network on the Verge of a Breakout? Fresh Roadmap Fuels 4% Price Bump
Trading volume has increased, which usually means heightened market activity. However, higher volume isn’t always a sign of buying — it often reflects increased selling pressure too. The Relative Strength Index (RSI) currently sits at 41, placing Pi in oversold territory, which could mean a short-term recovery is possible.
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