Pi community sentiment has been shaken by resurfaced allegations against its founders, putting bullish PI coin price predictions under pressure.
2020 court filings allege that PI’s married co-founders allowed personal disputes to derail the project, raising questions about leadership, transparency, and internal governance of the altcoin.
The plaintiff, former executive McPhilip, argued that these conflicts undermined his ability to lead, diverting attention from growth to private disputes.
The core of the lawsuit, however, was an attempt to dilute McPhillips’ ownership, underscoring greed-driven decision-making in a project trusted with the capital of millions of users.
Pi community commentator Mr Spock added that the lawsuit provides context to inactivity from the Pi core team: when internal conflicts take focus, communication with the community suffers.
This disconnect leaves users in the dark, opening the doors to short-term speculative trading and deterring the builders who create the use cases needed for sustainable growth.
As a result, inflationary pressures compound the effects of weak demand, as tokens continue to unlock at an average rate of $1.2 million per day, according to PiScan.
Pi token unlock schedule over the next 30 days. Source: PiScan.PI Coin Price Prediction: Can PI Recover From This?
While narratives cloud sentiment, technicals mirror the setup that preceded PI’s last retest of the descending channel, restricting upside for the past four months.
PI / USDT 1-day chart, descending channel pattern. Source: TradingView.Momentum indicators suggest cracks in sell pressure. The RSI is hovering just below the 30 oversold threshold, a zone that previously marked a local bottom and launched a reversal.
The MACD histogram also hints at buyers stepping back in, climbing towards the signal line in the potential early stages of a new Pi Coin price uptrend.
The key threshold for a breakout lies around $0.32, a past strong support that must be recovered to confirm an upwards move.
Fully realised, this setup targets $0.50 for a potential 90% rebound. Securing that could open the door for a move to reclaim its next major ceiling, the May high at $1.70, for a 530% move.
Still, traders should hedge their bets as the MACD signals weak rebounds with only brief leads above the signal line.
Without clarity from the Pi Core team, builder onboarding and major exchange listings, a rejection at $0.32 seems more likely.
The next support floor is 30% lower at $0.185, a past psychological support level.
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Visit the Official Website HereThe post Pi Coin Price Prediction: Resurfaced Lawsuit Alleges Pi Founders Let Personal Drama Derail the Project – Should Users Be Worried? appeared first on Cryptonews.
