Pi is trading closer to the critical $0.4 support.
The Pi Core team can prevent the cryptocurrency from total collapse.
Pi coin crashed by over 85% from its $2.9950 all-time high.
The Pi Network token is under serious bearish pressure, with its price now trading near the critical $0.40 support level, citing TradingView data.
However, a close observer of the cryptocurrency is optimistic that the team behind the digital asset can prevent a brutal crash that could affect investors’ confidence in the project’s sustainability.
Why Is the $0.40 Level So Important?
In his latest post on X, the Pi coin observer, “Dr_Picoin,” highlighted the Pi Core Team’s ability to prevent a drop below the crucial $0.4 support. The core of his argument is that the team owns over 90% of the coins, giving them the ability to prevent the price from dropping massively.
Will Pi go below $0.4?
No, I do not think so.
Why?
Because the Pi Core Team owns 90 percent of the coins and is smart enough to avoid letting the price fall below $0.4. Dropping below that level could push Pi’s market cap ranking out of the top 30, making it appear riskier to…
— Dr Altcoin (@Dr_Picoin) Ju…
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