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Why did the price of PI Network drop today?
$Pi
PI Coin enters the consolidation phase: Is the next drop to $0.7111? In a recent move, PI Network launched a $100 million project fund to support PI startups in real-world use cases such as AI, Fintech, and e-commerce. Although this move indicates long-term bullish expectations, the price of Pi Coin fell after the announcement, which was a concern for investors. Consequently, over the past 48 hours, the PI Core team sold approximately 30 million PI tokens, which could be done to generate the required cash flow to cover 50% of the $100 million funding required for PI Network projects. Amid this, investors and traders are curious about where the PI Coin could head in the short term. PI Network (PI COIN) Price Analysis: At the time of publication, Pi Coin is changing hands at $0.8701, with a change of -0.51% in the last 24 hours. Despite the daily price drop, the altcoin is still up 18.33% over the past week and 38.51% over the past month. However, in the past 48 hours, the PI token has entered a consolidation phase, reflecting market hesitation following the widespread token sale by the core team. When talking about where PI is headed next, the $1 target remains the main resistance. If the dip worsens, it may find support at $0.78, with a decline from here potentially dropping to $0.7111. Also read: PI Network (PI) Price Predictions 2025, 2026-2030 for long-term targets! FAQs: How much is 1 PI Coin now? The price of PI dropped today by 0.51% to $0.8701. Will the price of Pi Coin drop further? If the downtrend continues, the price of PI could drop to $0.78 and fall to $0.7111. Share this crypto insight with your network!