Pi Token Falls 32% Despite $100M Fund – The Irony is Real!

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Ah, the sweet, sweet irony. Pi Network’s native token, PI, took a nosedive of over 32% in the past 24 hours, currently lounging at a humble $0.8768. This plummet came *despite* the grand announcement of a $100 million venture fund, because who wouldn’t be thrilled about a crypto project backed by… a fund? Cue the drumroll.

On the dazzling day of May 14, the Pi Foundation decided to play fairy godmother, bestowing upon the world the glorious Pi Network Ventures. A fund designed to nurture startups working on “real-world applications” and fostering PI adoption. So, of course, they’re now the Silicon Valley of the blockchain world, dipping into AI, gaming, FinTech, e-commerce, and the like. Let’s all give a polite golf clap.

And yet… the market *yawned* in response. PI, after reaching a height of $1.30 one day, plummeted to a modest $0.8183 before settling at its current resting place at $0.87. Perhaps traders had built up feverish hopes of an exchange listing that could magically provide liquidity and offer price discovery. Alas, when that didn’t happen, the reaction was as predictable as the sun setting—classic “sell the news” move. It’s almost like clockwork, folks.

But wait—PI isn’t totally on its last legs. It still clings onto a glimmer of hope, hovering above key moving averages like the 50-day SMA and the 10-day EMA. There’s a faint glimmer of optimism. The RSI is sitting comfortably at a neutral 57.24, and the MACD suggests some short-term upside. So, hang on tight, we’re not entirely out of the woods just yet.

If PI manages to stay above $0.85, there’s a chance it could bounce back to $1.10—who knows, a potential miracle! However, if it slips further, we might see it testing the $0.74 support level. So, let’s all hold our breath.

For now, it seems investors are doing some serious soul-searching, with short-term traders fleeing the scene. Meanwhile, Pi Network continues its marathon, focused on long-term growth and real-world adoption, like a determined tortoise in a race of crypto hares.

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2025-05-15 09:31