Pi Network (PI) is facing a substantial price correction. The asset experienced a surge in popularity and price over the last few months. PI even entered the top 20 projects by market cap. The rally seems to have been short-lived. PI’s price is down 0.7% in the daily charts, 28.8% in the weekly charts, 50.9% in the 14-day charts, and 47.2% over the previous month.

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Pi Network Faces Correction Amid Market Resurgence

The cryptocurrency market made a slight recovery on Wednesday, Mar. 26. Bitcoin (BTC) briefly reclaimed the $88,000 level. BTC’s price has since dipped to $87,000. Other assets also made slight recoveries. PI, on the other hand, has faced a significant price dip. The asset hit an all-time high of $2.99 on Feb 26. Since its February highs, PI’s price has fallen by nearly 72%.

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The recent market recovery could be due to the US easing tariffs. The SEC dropping its litigation against Ripple may have also boosted investor confidence. The SEC is also hosting four more rounds of crypto round tables. The market may have reacted positively to the development. Pi Network (PI), on the other hand, seems to have lost its track.

Should You Buy The Dip?

PI’s correction is likely due to investors booking profits after the asset hit an all-time high last month.

According to CoinCodex, PI may rally over the coming weeks. The platform anticipates the asset to hit a new all-time high of $4.11 on May 4. PI’s price will rally by about 397% if it hits the $4.11 target.

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There is also a possibility that PI will continue to dip. The project does not have any real-world utility. This aspect of the project makes it difficult to gain traction.