Pi Network breaches support even as rebound catalysts emerge
Pi Network’s native token, PI, has dropped sharply in recent days, falling to around $0.86 on May 16 as many anticipate a price rebound amid growing catalysts.
Pi Network Pi Network
PI
-2.87%
Pi Network has now dropped over 40% from its weekly peak of $1.57 and is more than 71% below its all-time high of $2.99, which was reached in late February. The latest drop came despite to be a major development.
On May 14, the Pi Foundation announced a $100 million venture fund aimed at supporting startups in areas like AI, gaming, fintech, and e-commerce. The initiative hopes to boost real-world use of the Pi ecosystem, but the market reaction was negative.
Many traders had anticipated a major exchange listing, which would have brought significant liquidity and price discovery. The news likely triggered a “sell the news” response from the market because there was no listing in sight.
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