Pi Coin price continues to face challenges in breaking the $0.5 resistance amid instability in the crypto market, while experts share their forecasts for the future.
Pi Coin Price Dynamics
Today, the price of Pi Coin has decreased by more than 5.5%, dropping below the $0.48 mark. This decline occurred from a 24-hour high of $0.5, causing concerns among investors about further dips.
Over the past week, the price of Pi Coin has lost more than 15%, leading to a total monthly decrease of about 28%. The declining open interest in the Pi Network also reflects a waning risk appetite among investors. Technical indicators show high selling pressure: the Relative Strength Index (RSI) is at 35, indicating that the asset is approaching an oversold condition.
Expert Forecasts for the Future
Despite the recent decrease in Pi Coin price, analyst Dr Altcoin remains optimistic about the future trajectory of the asset. He predicted that the cryptocurrency could reach the $10 mark, hinting at a potential timeline, which has sparked discussions among traders.
According to Dr Altcoin, this milestone will mark the beginning of Pi Network’s journey as a global peer-to-peer digital currency. The analyst's optimism is based on the upcoming launch of the Pi Network’s AI App Studio, which he believes holds significant future potential.
The Role of Pi APP Studio in the Ecosystem
Currently in its beta stage, the AI App Studio functions as an AI chatbot. However, Dr Altcoin expects it to evolve into a platform where users can create fully functional decentralized applications (DApps) without prior coding knowledge.
When a user inquired how long it might take for Pi Coin price to hit $10, Dr Altcoin stated that it would take around 1-2 years. However, this timeline is contingent on the AI App Studio reaching its full potential.
Therefore, the prospects of Pi Coin remain uncertain amidst current market volatility. While expert forecasts appear encouraging, their realization heavily depends on the overall state of the crypto market.
