{"content":"Pi Coin ($PI) has experienced a significant decline, dropping over 20% to approximately $0.69, despite the Pi Network's recent announcement of a $100 million venture capital fund aimed at fostering real-world applications of the cryptocurrency. The downturn is attributed to several factors: "Sell-the-News" Reaction: Investors may have anticipated the fund's launch, leading to a surge in PI's price prior to the announcement. Once the news became public, profit-taking ensued, causing the price to drop. Community Discontent: Long-standing supporters, known as "Pioneers," express frustration over the lack of functional decentralized applications (DApps) on the Pi Network, despite years of development and promises. The fund's announcement, without tangible progress, has been perceived by some as a diversion rather than a solution. Technical Indicators: Analysts point to bearish patterns, such as the formation of a "bear flag," suggesting potential further declines. Key support levels are identified at $0.75 and $0.57, indicating areas where the price might stabilize if the downward trend continues. Despite the current challenges, the Pi Network maintains that the venture fund will, in the long term, enhance the ecosystem by supporting startups that integrate PI into real-world applications. Investors and community members are advised to monitor developments closely, considering both the technical trends and the network's progress in delivering on its promises. #BinanceAlphaAlert #BinanceAlphaPoints #CryptoRegulation ","images":[],"tags":[],"tradingPairs":[],"quotearticleid":0}