Pi Coin is showing signs of deeper weakness, with chart signals and market behavior pointing toward a possible decline to $0.32.
Trading at $0.419 on July 31 after a modest 1.54% dip, PI appears vulnerable as a head-and-shoulders pattern takes shape—often a reliable indicator of a bearish reversal. If confirmed, the breakdown could trigger a 23% drop from current levels.
Adding fuel to the downside, a major wallet offloaded 2.36 million PI to Bitget, reflecting reduced confidence from large holders. Meanwhile, the RSI remains near 35, signaling that buying momentum remains weak despite brief attempts to recover around $0.41.
Further pressure is expected in August with over 150 million tokens set to be unlocked, potentially increasing selling pressure.
Analyst Kim Wong highlights two critical concerns: the lack of dApp development on Pi Network and the ongoing supply overhang from locked tokens. Without clear solutions, the path forward remains uncertain.
If PI breaks below key support, $0.32 could become the next battleground—potentially forming a fresh demand zone, but also marking a new low for the year.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/pi-coin-price-prediction-whale-sell-off-could-trigger-massive-crash/