Pi Network’s native cryptocurrency, PI, has seen a dramatic price drop over the past hours, plummeting by more than 35%. While this significant decline raises eyebrows, some analysts remain optimistic. They believe it may be a necessary correction before another substantial rally takes place, potentially pushing the token above $2. This rollercoaster ride in Pi’s value follows an intriguing week marked by a potential major development announcement on May 14th, coinciding with a market resurgence that propelled PI to its highest price point in over a month. The sudden drop has led many to question whether this recent surge was driven by the anticipation of this upcoming news or broader market trends. While the token’s decline is notable, analysts anticipate a potential recovery as they remain optimistic about Pi Network’s future. Notably, Moon Jeff, an influential X commentator and cryptocurrency enthusiast, believes that if the upcoming announcement proves to be positive, it could propel the price even further above $2. 7. However, he acknowledges that the market has already factored in any potential positive news, waiting for a decisive move from the Pi Network team.