Pi Network Price Drops Ahead of Token 2049 Event
Pi Network (PI) price fell 1% on Tuesday. This happened before the Token 2049 event in Singapore. Pi co-founder Chengdiao Fan will speak at the event. Past public appearances by Pi co-founders have led to price drops. For example, PI fell 42% during the Consensus 2025 event in Toronto. This raises concerns about a similar drop after Token 2049.
Pi Network Co-founder to Speak at Token 2049
Chengdiao Fan will talk about “Crypto’s Future: From Liquidity to Utility – Web3 Pathways to Innovation” on Wednesday. This ties into the Pi Network Hackathon and the upgrade to Stellar version 23. However, past events show that co-founder appearances can trigger sell-offs. Nicolas Kokkalis’ visit to Consensus 2025 caused a 42% price drop. A community meetup in Seoul on September 22 led to a nearly 20% decline. Fan’s Token 2049 talk may cause another price correction.
Pi Network Faces Key Price Levels
PI trades above $0.26 after a 6% drop on Thursday. If it falls below $0.2565, a bigger correction may follow. The Relative Strength Index (RSI) is near 29, showing the token is oversold. The Moving Average Convergence Divergence (MACD) is close to a bullish crossover. If PI rebounds, resistance levels are $0.30 and $0.3349.
