Following a more than 20% price decrease of Pi Network (PI) in the past week, analysts have suggested strategies to prevent further decline. Dr. Altcoin, an active member of this network, believes that by burning a significant portion of Pi tokens, the development team can help improve its price. With the threat of Pi’s price dropping to $0.3 due to recent token releases, Dr. Altcoin emphasizes that investors must accept the current reality of this project. He warns that further price decrease may delay reaching a new all-time high. According to him, removing extra coins from circulation will create token scarcity and thus increase its price. Dr. Altcoin, in an analysis published on the platform, stated that the Pi team should burn billions of tokens held in over 20 thousand foundation wallets. Currently, this team controls over 80 billion tokens. Dr. Altcoin also stresses the importance of transparency in the token burning and release process, believing it can pave the way for Pi to be listed on exchanges like Binance and BitBit. However, this analyst did not provide a specific long-term solution, only expressing the need to wait and hope for Pi to follow a similar path to Bitcoin, not like Ripple. Despite the recent price drop of Pi Network, this token has begun recovering part of its value since yesterday and has continued to grow. After hitting its all-time low (ATL) at $0.40 yesterday, this asset has regained over 60% of its value and is currently trading around $0.65. Alongside this price growth, Pi Network’s trading volume has also surpassed $1.3 billion with a 56% increase. The next resistance Pi Network must test is the $0.9 level.
