Pi Network Coin price has suffered a harsh reversal in the past few days, moving from last week\u2019s high of $0.2050 to the current $0.1580. It has slipped to its lowest level since February 14.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n Pi Coin (PI<\/a>) token has dropped by over 23% from its highest point this month and 90% from its all-time high. This retreat has pushed its market cap from over $19 billion to $1.4 billion.\u00a0<\/p>\n Pi Network has slumped because of the broader crypto market crash that has affected Bitcoin (BTC<\/a>) and other altcoins. Bitcoin dropped below $65,000, while top altcoins like LayerZero, Hyperliquid, Mantle, and Lighter fell by nearly 10% in the last 24 hours.<\/p>\n The retreat is also happening as investors book profits after the recent surge. Pi Network was up by 60% between its lowest and highest levels this month as traders waited for the first anniversary of the mainnet launch. It also jumped amid optimism that Kraken will list it soon.<\/p>\n <\/p>\n The other potential reason for the sell-off is that the team\u2019s address on the future did not address key issues. This address focused on priorities like boosting it utility growth and the upcoming KYC-as-a-Service, which will see it compete with World and Humanity Protocol<\/a>.<\/p>\n However, the video did not address pressing issues that have led to a crash. For example, it did not talk on tokenomics, including the ongoing token unlocks and the fact that it does not have a deflation mechanism like token burns.<\/p>\n The developers also did not talk about ways to make it a decentralized network where the community votes on key issues. Today, all decisions are made by the team, while the obscure Pi Foundation holds billions of tokens.\u00a0<\/p>\n Additionally, they did not address the future plans on exchange listings as Pi is only available in a handful of exchanges.<\/p>\n The daily timeframe chart shows that the Pi Coin price has slipped in the past few days. After peaking at $0.2050 last week, it has dropped to $0.1600.<\/p>\n The coin has remained below the 50-day moving average and the Supertrend indicator. It has also slumped below the Ichimoku cloud indicator.\u00a0<\/p>\n The most likely Pi Network price forecast is bearish, with the next key target being the year-to-date low of $0.1290. A move to that level may be bullish as it will be a double-bottom pattern whose neckline is at $0.2050. On the other hand, dropping below that level will invalidate the bullish outlook and point to more downside to $0.100.<\/p>\n <\/p><\/div>\n\n
Pi Coin price has dropped amid profit-taking<\/h2>\n
Pi Network Coin price technical analysis<\/h2>\n
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