Founder's Speech Is Useless! Pi Network Investor Sentiment Has Cooled!

▲ Pi (PI)/ChatGPT generated image ©

Despite the founder's speech at a major global conference, which garnered the attention of cryptocurrency investors worldwide, Pi Network (PI) has continued its decline for three consecutive days, slipping below $0.18. With even technical indicators pointing to a clear bearish trend and key support levels being threatened, market anxiety about a further crash is escalating.

According to the investment media outlet FXStreet on May 8 (local time), Pi Network co-founder Nicolas Kokkalis attended Consensus 2026 on Thursday and delivered a speech on identity verification amid the advancement of artificial intelligence. Despite the consecutive appearances of key figures, following Dr. Chengdiao Fan's speech the day before, individual investors' interest in the project has actually cooled.

Data from the analytics platform Santiment shows that Pi Network's social dominance plunged from 0.034% on Wednesday to 0.008%. The media analyzed that the re-escalation of geopolitical tensions between the United States and Iran caused the overall cryptocurrency market sentiment to shift towards risk aversion, which critically impacted Pi Network's deteriorating social metrics and price decline.

From a technical perspective, a bearish trend is also dominant. Pi Network slipped below the 100-day exponential moving average (EMA) at $0.1845 on Wednesday, encountering upward resistance, and then gave up the 50-day EMA at $0.1784, extending its downtrend. The Relative Strength Index (RSI) on the daily chart is also hovering below the baseline at 46, and the Moving Average Convergence Divergence (MACD) has also broken below the signal line, forming a negative histogram, suggesting continuous downward pressure.

Experts warned that if Pi Network confirms a daily close below the ascending support trendline of $0.1735, a downward breakout from the triangular consolidation pattern would be formalized. In this scenario, a deeper correction could occur, pushing the price beyond the April 13 low of $0.1633 to the February 23 low of $0.1556.

Conversely, if it succeeds in rebounding and breaks above the 50-day and 100-day EMAs, it could aim for the $0.2 mark, followed by the long-term resistance level of $0.2293 as its next target.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*