The post Will It Bounce Back After Falling 52%? appeared on BitcoinEthereumNews.com.

Pi coin has seen significant volatility over the past few weeks. After a promising rally that took the token from $0.57 to around $0.77, the price quickly retraced, falling back to the $0.66 level. Despite the recent upswing, the overall sentiment remains bearish, with the token down 52% over the past month. This performance mirrors broader trends across the altcoin market, which has been weighed down by heavy selling pressure and a general lack of enthusiasm among investors. One major concern surrounding Pi coin is its tokenomics. While the circulating supply currently stands at approximately 6.87 billion tokens, the total supply is capped at 100 billion. This discrepancy raises red flags about future inflation, as additional token releases could significantly dilute value. Historically, the project reached an all-time high market cap of $20 billion, but it has since plummeted to just $4 billion—reflecting a steep decline in investor confidence. Despite its price struggles, Pi coin continues to generate interest, particularly due to its unique mobile mining concept. The project began as a mobile app, allowing users to mine $PI on their smartphones before transitioning to mainnet. As users gained the ability to sell their tokens, it led to a spike in selling activity, further driving down the price. Influencers and parody accounts on social media—particularly those referencing high-profile figures like Elon Musk—have also played a role in the coin’s price fluctuations by generating buzz. Source – Jacob Crypto Bury on YouTube Pi Coin Price Prediction $PI experienced a sharp decline from around $0.741 to a low near $0.640, indicating a significant 13.7% drop in a short time frame. Following the plunge, it rebounded slightly and is currently trading around $0.667. The immediate support level lies around $0.640, where buyers previously stepped in. If this support fails to hold, the next…

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Filed under: News - @ April 15, 2025 9:19 pm