Pi Network’s $100M Fund Fails to Stop 32% PI Token Plunge—Crypto ’Moonshots’ Grounded Again
Pi Network’s grand $100M ecosystem fund launch couldn’t save its native token from a brutal sell-off—because nothing says ’confidence’ like double-digit drops on ’good news.’
Another day, another crypto project learning that nine-figure war chests don’t magically create demand. The PI token’s nosedive suggests investors are finally asking the hard question: when does ’building for the long term’ become excuse-making for poor performance?
Meanwhile, traditional finance VPs sip champagne and whisper ’told you so’ into their Bloomberg terminals.
Pi Network Price – Source: CoinMarketCap
Despite the big news, the market response was negative. PI fell from a high of $1.30 a day to a low of $0.8183 and stabilized at $0.87. Many traders were probably anticipating a big exchange listing, which WOULD provide liquidity and price discovery. Without it, the announcement could have left a sense of underwhelming – prompting a classic “sell the news” move.
Technically, PI is still a bit strong. It transacts above important moving averages such as the 50-day SMA and 10-day EMA, which are bullish indications. The RSI is at the neutral level of 57.24, while the MACD suggests the short-term upside.
If PI stays above $0.85, it may bounce back to $1.10. However, if it goes below, then a retest of $0.74 support is possible.
For the moment, investors appear to be rethinking their positions. As short-term traders leave, the Pi Network keeps on building, betting on the long-term growth by real-world adoption.
Also Read: Pi Coin Enters Top 20 crypto Ranking on CoinMarketCap
