Pi Coin Price Has Dropped 35% — It is Now Eyeing More Bloodbath

Key Takeaways:

• Pi coin pared most of its Aug 25 gains.
• The next target could take PI 25% lower than the current value.
• Pi Network announces Fireside Forum, a “Pioneer” meetup space.

YEREVAN (CoinChapter.com) — Pi Coin (PI). the native token of Pi Network’s crypto mining tool, price rebounded 4.3% to $43.40 on Sep. 12, a day after crashing to as low as $38.60.

Notably, the green candle came after a 35% drop from the local top of $62 on Aug. 25.

As a result, the Pi coin price dropped below the $40.4-41.7 support-turned-resistance bar. It is unclear whether the 4% uptick in trading volumes (247,500 on Sep 12) will push the PI token above the bar. If the coin can’t hold the support, the next likely target would stand at $30, or 25% below the current value.

Pi Network announces Fireside Forum, but not the Mainnet launch

On Sep 11, the Pi Network team announced the launch of the Fireside Forum, a “novel social media experience” for Pi coin holders, or as the team calls them – pioneers.

Additionally, while a member of the Pi core team posted a survey on why followers joined the Network in the first place, several commenters brought up the sore subject of the Pi Network Mainnet, which hasn’t launched yet.

The team had advertised the launch multiple times but has not delivered a rigid timeframe.

We are interested in Pi actually launching to public mainnet, not this other BS that means nothing if the coin doesn’t exist yet. Its been almost 5 YEARS. If it takes this long to go to mainnet i don’t even want to risk investing into it.

read one of the comments.