Pi Network Price Prediction: Is PI falling towards the abyss of 0.3 dollars, or rebounding to hit 3 dollars?

On August 27, Pi Network (PI) faced heavy dumping pressure, with the price falling to $0.33, and it dropped out of the top 50 global Crypto Assets by market capitalization. The market is following whether it will further dip to the key support of $0.3, or will it rebound and challenge the long-term target of $3.

From historical peak to a fall of 88%

(Source: Trading View)

Since reaching a historical high of 2.99 USD in the first week after its launch, PI has fallen by 88.8%, remaining in a long-term downward channel.

The core of investors' concerns is:

Unlocking speed: Approximately 168 million coins are unlocked each month, which may bring inflationary pressure.

Ecological Progress: The Implementation of Decentralized Applications (dApps) is Slow

Exchange listing stagnation: Lack of support from mainstream exchanges affects liquidity and market confidence.

Mainnet Migration and Community Anxiety

Currently, 12 million Pi coin holders have completed the asset migration to the mainnet, but some community members are looking forward to the second round of migration to release profits.

Some users have reported delays in KYC verification and some claim to have encountered unauthorized withdrawals, which has exacerbated market uncertainty.

Technical Analysis and Capital Flow

Technical indicators show that the short-term trend of Pi coin remains bearish:

Chaikin Money Flow (CMF): Continues to be below zero, indicating capital outflow.

Parabolic Stop and Reverse (SAR): issues a sell signal, bearish trend has not ended

To return to $3, the market capitalization of PI coin needs to exceed $10 billion. Currently, the market capitalization is only $2.7 billion, far from the historical high of $13.55 billion.

Key Conditions for the 3 Dollar Dream

The market generally believes that for the Pi coin to restart its upward trend, it needs to:

Listed on mainstream exchanges: The official listing of a new round of CEX

Ecosystem Landing: More Available dApps and Payment Scenarios

Unlocking Rhythm Control: Avoiding Price Impact from Short-Term Supply Surplus

It is worth noting that the new round of CEX exchanges has hinted at the intention to launch, but there has been no substantial action to date.

Conclusion

Pi coin is at a critical crossroads: if it dips below 0.3 USD, it may trigger a new round of dumping; if it can break through the bottleneck with support from funds and exchanges, there is still a chance to return to 3 USD. For investors, the upcoming market news and technical breakthroughs will be key to determining the fate of Pi coin.