Can Pi Coin Still Reach $100? Expert Reveals How the Team is Battling Mass Selloff

The Pi Network (PI) is currently down 62.6% and trading 78.7% below its all-time high due to controversies and fraud accusations that have triggered a wave of selling pressure.

Despite this, a leading cryptocurrency expert and staunch project supporter believes the team is actively working to regain control and stabilize the token's price.

Dr. Altcoin, a widely followed personality on X, discloses that the Pi Core team is currently absorbing the excess supply flooding into centralized exchanges (CEXs) - a move aimed at alleviating selling pressure and restoring investor confidence.

According to him, this approach has shown results as PI's rate of decline has significantly slowed in recent days.

While many challenges remain, this quiet effort could be an important step in laying the groundwork for a stronger recovery - and potentially reviving the long-term vision of a $100 PI.

Is this good for PI? Although Dr. Altcoin supports this idea, it means the project is potentially spending a huge amount of money to maintain an artificially high price.

If they run out of resources or deem it unsustainable, the mass selloff could continue. Meanwhile, if the selling frenzy slows down, this strategy will be effective as it will restore the project's public reputation.

PI could reach $0.67 after crossing the bullish EMA line

Since major exchanges like Gate have declined to list PI, the price of this coin has dropped significantly from its all-time high of $2.98 to $0.6352 today.

Looking at the price action, PI's price has certainly consolidated around the $0.60 zone and appears poised to break out of the symmetrical triangle pattern after surging above the 21-day exponential moving average (EMA).

A bullish breakout could push PI to $0.65, with the next move targeting $0.67, offering a short-term gain of about 6%. Momentum is shifting in favor of buyers, with the RSI index crossing above the signal line and the MACD chart steadily increasing for three consecutive days.

The team's efforts to stabilize PI seem to be gaining attention, although reaching a $100 level will require a major shift in public perception, as well as stronger support from exchanges and wallet providers to increase liquidity.

As PI strives to regain growth momentum, a new meme cryptocurrency offering passive Bitcoin rewards has raised nearly $5 million - quickly becoming one of the hottest cryptocurrency private sales this year.