What's Next for Pi Coin After a 35% Drop – Can It Bounce Back?

Pi Network Price Prediction: Why Pi Coin is Falling After a 180% Surge

Pi Network (PI) recently shocked the cryptocurrency world by going up more than 180%, from $0.40 to an all-time high of $1.67 within a short period of time. That streak of hotness was, however, ended by a shock 35% correction in the past 24 hours. What caused the huge drop? A warning sign or a natural pullback ahead of another breakthrough?

Let's see what has happened with the altcoin price action, why the price surged and then fell, and what to expect next from major technical indicators.

Why Did the Pi Coin Price Explode 180% ?

Pi Coin's price explosion is mostly driven by speculation around a massive announcement from the Core Team at the Consensus 2025 conference on May 14.

Whispers of speculation within the community point towards the following possible catalysts, such as a long-awaited Binance listing and the announcement of strategic partnerships.

Added to the optimistic sentiment was a gigantic accumulation by whales, with one wallet purchasing 70 million on OKX, pushing its holding to more than 155 million, the largest reported wallet on CEXs.

This gigantic accumulation fuelled rumours of insider faith and potentially a significant CEX listing, which further boosted overall buying pressure.

Why Is PI Price Dropping Now?

The recent drop in the value of Coin from its peak of $1.67 is due to profit-taking by speculative traders, technical resistance at the 50% Fibonacci retracement point, and the fact that there are no solid developments after a speculative rumour. The drop is a healthy adjustment, with settling at the $1.10 level—a strong support point based on Fibonacci analysis.

Technically, the 4-hour chart has a parabolic breakout with a subsequent bullish flag formation, indicating the possibility of a trend continuation towards the upside direction. The decisive support level would be between $1.10 and $1.05, while the breakout level can be observed at $1.30 to $1.25.

Source: TradingView

If the $1.05 mark remains resistant and volume increases, a breakout above $1.30 would set up a rally to the next resistances of $1.46 and $1.75. Or a neat breakdown below $1.05 would kill the bull chance and drive altcoins down to lower supports of $0.90 or even $0.75.