Pi Coin Enters Consolidation Phase: Is a Drop to $0.7111 Next?

The post Pi Coin Enters Consolidation Phase: Is a Drop to $0.7111 Next? appeared first on Coinpedia Fintech News

In a recent move, Pi Network launched a $100M venture fund to back startups using Pi Coin in real-world use cases like AI, fintech, and e-commerce. Although the move signals a bullish outlook in the longer run, Pi coin price has dropped after the announcement, which has been a bummer for investors.

Successively, in the past 48 hours, the Pi Core Team has sold ~30M Pi tokens, which could possibly be done to create the cash flow required to cover 50% of the $100M funding required for Pi Network Ventures. Amidst this, investors and traders are curious about where Pi coin could be heading in the short term.

Pi Network (Pi Coin) Price Analysis:

At the time of publication, Pi Coin is changing hands at $0.8701, with a change of -0.51% in the past 24 hours. Despite this daily price drop, the altcoin is still up 18.33% over the past week and 38.51% over the past month. However, in the past 48 hours, the Pi token has entered a consolidation phase, reflecting market indecision following the large-scale token sale by the core team.

Talking about where Pi is heading next, the $1 target continues to remain the key resistance. If the plunge aggravates, it could hold support at $0.78, a fall from here could lead to $0.7111. 

Also read our Pi Network (PI) Price Prediction 2025, 2026-2030 for long-term targets!

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