Pi Coin Struggles to Regain Footing After Sharp Price Correction
Pi Coin’s recent market performance has been highly volatile, peaking at $1.70 on May 13 before experiencing a 50% drop within 48 hours. The token is currently testing support levels around $0.81, facing technical resistance and upcoming token unlocks that may hinder recovery.
The market cap reflects significant losses, dropping from $9 billion to $6 billion as Pi Coin fell from the top 20 to 29th among cryptocurrencies. Despite a $100 million development fund announcement, market participants remain skeptical about near-term prospects for reclaiming the $1.50-$1.70 range without stronger catalysts.