The price of Pi Coin may soon reach its historic low following its failure to maintain the $0.475 level. Investors are expressing concerns about the project's roadmap and its impact on the market.
Declining Volumes and Liquidity
According to CoinMarketCap, Pi Coin traded only $46 million this past Sunday, significantly below the eight-day rolling average and post-Pi2Day peak. This indicates not only reduced retail activity but also that whales are retreating from the $0.50 level.
Breaking Key Support
On the charts, Pi has already broken a significant support at $0.475. Failing to reclaim this level indicates there’s limited buying interest, especially with the RSI below 50 on the 4-hour chart. The current momentum remains bearish.
Community Response and Future Predictions
The rollout of the zero-reward staking model during the recent Pi2Day event has disappointed many users. This has lowered engagement in the ecosystem. Investors are closely watching the $0.40 level, which could signal stabilization or new lows.
A critical period lies ahead for Pi Coin. Whether it holds above $0.40 will determine the future of this cryptocurrency. Without increased whale interest and community support, the situation may worsen.
