Pi coin failed to stand back at the 0.50 USD mark! Market analysis: A 'triple bottom' pattern must form in order to rebound.

Today (8) in the Asian early session, Pi Network (PI) continues to breathe below 0.50 USD, currently reported at 0.4553 USD. Market analysis suggests that the price momentum of Pi coin seems to be weakening, and it may soon fall below 0.40 USD. Despite the recent announcements regarding ecosystem development and application hosting, experts hint that most positive developments have been priced in, thus having little support for the current level.

Factors Behind the Pessimistic Outlook

1. The hype around Pi2Day has been fully digested: The Pi2Day event in June, AI collaborations, the launch of new merchants, and the booming ecosystem applications once boosted market sentiment. However, the momentum behind these news primarily stemmed from sentiment rather than actual capital inflows, and its impact on prices has gradually faded.

2. A large number of tokens are expected to be unlocked in July: Over 276 million Pi coins will be unlocked in July, accounting for 3.7% of the circulating supply. Since no new developments are expected in the short term, the increase in available tokens may heighten selling pressure, triggering cautious or bearish market behavior.

3. Brief price increases: Historically, the price of Pi coin rises are usually short-lived. Events such as the mainnet launch and Pi2Day celebrations can trigger short-term surges, typically lasting less than a week, after which the price tends to fall back to previous levels. Therefore, professional traders remain reluctant to hold long positions.

4. $0.40 is a key support level: From a technical perspective, $0.40 is both a critical chart support level and a psychological barrier. Falling below this level may trigger buying interest, forming a triple bottom pattern, and could support future rebounds.

New developer hosting services may support long-term growth

According to CoinPedia, although short-term price predictions remain bearish, Pi Network has recently updated its platform, which may enhance its ecosystem. The core team announced that it will begin directly hosting developer applications, eliminating the need for external infrastructure such as servers and security systems.

It is expected that this change will lower the threshold for developers, allowing them to create applications that use Pi for payments and transactions more quickly and easily. This helps attract more developers to join the platform and gradually enhance the utility and use cases of Pi.