Pi Coin (PI) Unveils New Features After 96% Plunge...Will Investor Sentiment Recover?

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Pi Coin (PI) is attempting a limited rebound, leveraging the unveiling of three new features, even after a 96% crash. However, despite the recovery in open interest and inflow of buying power, long-term bearish signals still remain, making the recovery of $0.12 a crucial turning point for short-term trends.

According to cryptocurrency specialized media CoinGape on July 2 (local time), Pi Coin rose 0.5% on the day, trading around $0.115. The increase came after Pi Network unveiled three features aimed at expanding token utility: SoloHost, Pi Sign-In, and PiVerify.

Pi Network revealed these three features at the Pi2Day event held on June 28. SoloHost is a feature that helps developers create AI applications on the Pi Network. Pi Sign-In is designed to allow users to utilize their Pi accounts when accessing SoloHost-based dApps. PiVerify is responsible for verifying the identity of dApp users within the network.

Market reaction has been limited so far. Although buying activity increased slightly and prices rose marginally after the unveiling of the three major features, it did not lead to a strong trend reversal. CoinGape analyzed that Pi Coin has recovered from its all-time low of $0.110 on June 30 to $0.117 on July 2, moving within an ascending parallel channel.

From a technical perspective, $0.118 was presented as the first resistance level. Analysis suggests that if buying momentum continues, it could recover to the psychological resistance level of $0.12. However, with the Relative Strength Index (RSI) at only 41, the long-term outlook still leans towards bearishness. If buying power weakens, Pi Coin could fall back below the $0.112 support level.

Signals of demand recovery were also observed in the derivatives market. According to Coinalyze data, Pi Coin's open interest increased from $18.66 million to $20.58 million. The simultaneous increase in price and open interest suggests the possibility of new long positions entering the market. However, it is still significantly below the May 6 peak of $35.42 million, indicating that stronger demand is needed to re-approach the $0.299 recorded in March 2026.

[Article Key Summary]

-Pi Coin attempted a limited rebound after a 96% crash, driven by the unveiling of three major features: SoloHost, Pi Sign-In, and PiVerify.

-Open interest increased from $18.66 million to $20.58 million, but is still significantly below the May peak of $35.42 million.

-Whether $0.118 and $0.12 are recovered will be a key criterion for the continuation of the short-term rebound; a break below $0.112 could lead to increased bearish pressure again.

*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.*