The Pi Coin price has plunged by 28% in the past 24 hours, sinking to $0.8811 as the cryptocurrency market as a whole loses 4% today.
This steep fall follows the announcement of Pi Network Ventures, a $100 million fund aimed at supporting the development of apps on Pi Network.
Despite the positivity of this news, it’s arguable that the Pi Coin price had risen too high in recent days, with the token still up by 41% in a week and by 31% in the past month.
Such numbers testify to just how volatile PI can be, and while it’s down today, its long-term price prediction remains promising.
What’s Next for Pi Coin Price? PI Crashes Despite Long Awaited Crypto News
Looking at PI’s chart, it probably needs to fall further before it can return to growth, with its indicators coming down from overbought positions.
For instance, its 30-period average (orange) is now descending towards the 200-period average (blue) after peaking yesterday, with the indicator potentially falling further before things stabilize.
Source: TradingViewSimilarly, PI’s relative strength index (purple) touched 90 over the weekend, an extremely high level from which it’s still retreating.
PI has actually risen by 1% in the past hour, but because the market had overbought it by such a wide margin, it could fall again very quickly.
One positive detail is that Pi Network’s volume remains pretty high at almost $1 billion today, representing a 580% increase over the last seven days.
This signals ongoing interest in the token, although this number may decline as the Pi Coin price itself declines over the next couple of days.
The token rose strongly at the start of the week, riding a market-wide wave that followed the news of a tariff deal between the US and China.
It rose higher than most major tokens, partly in compensation for how heavily it had fallen in March and April.
This explains why it has fallen steeply despite yesterday’s news of the Pi Network Ventures fund, since it had formed a temporary bubble.
However, in the longer term, this new fund is bullish for Pi Network, given that it will support the growth of the wider Pi Network ecosystem.
This could help boost the Pi Coin price over the coming months, as could listings from some of the major exchanges that haven’t yet listed PI, such as Coinbase and Binance.
The token could hit $1.50 again by the end of the month, before reaching $2.50 by Q4.
Newer Altcoins May Have Stronger Fundamentals and Potential
But without new listings, PI may struggle to regain its former strength and momentum, in which case many traders may prefer to invest in newer alternatives.
New tokens launch every day, making it hard to pick potential winners early, but one way of narrowing the field is to look for successful presales.
Big raises are usually a sign that a new project has legs, with a strong community and market already behind it.
And one new token fitting this bill at the moment is Subbd (SUBBD), an ERC-20 token that has now raised close to $400,000 in its presale.
With over 120,000 followers on X, Subbd is exciting because it’s launching an AI- and crypto-based adult content creation platform, one which makes content more financially rewarding for creators.
Its harnessing of crypto and smart contracts will ensure fair and transparent payments for content creators, with the use of NFTs also providing a means of monetizing their productions.
On top of this, Subbd will also provide AI-based tools that will support users in creating content, aiding them in the generation of ideas and even producing content for them outright.
Such features arguably make Subbd more rewarding and useful as an adult content platform than its existing rivals, with the SUBBD token serving to pay platform and creator fees.
Investors can join SUBBD’s presale at the SUBBD website, where the token is currently selling at $0.055425.
This price will rise in three days, so buyers should act sooner rather than later.
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