Pi Coin Struggles as Analysts Warn of Potential Drop to $0.40

Pi Coin’s recent rally, which saw an 188% surge in mid-May, has lost momentum as bearish sentiment dominates. The cryptocurrency, which peaked at $0.90 earlier this month, has since fallen to $0.71—a 57% decline in just two weeks. Technical indicators, including the RSI dipping below 50%, suggest further weakness, with analysts predicting a potential drop to $0.40 by August.

Pseudonymous analyst Dr. Altcoin notes that Pi could retest April’s support level at $0.40, citing eroding market confidence. While the coin initially attracted buyers due to its 80% discount from all-time highs, a sustained recovery now depends on reversing the current downtrend. Market participants are watching for signs of renewed bullish momentum or institutional interest to halt the slide.