Pi Coin Dropped Below $0.60: The Community's Eyes on the Event on June 28
Having lost about 32.4% in value in the last month, Pi Coin (PI) is continuing its weak trend by falling below the significant support level of $0.60. As price pressure increases, investors' eyes are turned towards the 'Pi Day' event to be held on June 28.
The lack of new steps from the project team for a long time, especially the insufficiency of concrete developments after the mainnet, led to disappointment within the community. Many investors believe that unless a meaningful statement is made regarding the expansion of the Pi ecosystem, the price could decline to $0.40.
Unlocking Tokens is Creating Pressure
According to the data platform PiScan, approximately $143 million worth of Pi tokens are expected to be unlocked in June. This amount will be one of the largest unlocks planned until September 2027. In September of the same year, another 310 million tokens will be released.
Such large increases in supply are thought to further pressure the already weak market performance. Moreover, global risk factors such as geopolitical tensions in the Middle East are among the factors reducing investor appetite.
Community Hope Linked to 'Pi Day' Event
Despite all the negativity, the Pi community is looking forward to the potential news from the event that will take place on June 28 for morale. If the team presents a clear roadmap for the development of the ecosystem, this may have a positive impact on the price in the short term.
Price Analysis: Can $0.60 be Reclaimed?
Pi Coin has tested the significant resistance level of $0.55 in recent hours. If this level is surpassed, there is a possibility that the price could rise to $0.57 and then to $0.60.
According to technical indicators, the 9-day exponential moving average (EMA) has crossed above the 21-day EMA, creating a 'golden cross'. This is considered a signal of a potential upward trend change.
If the price manages to break the $0.57 level, which coincides with the 200-day EMA, the $0.60 target remains on the table. However, all eyes are focused more on the announcements to be made on Pi Day than on these technical developments.
According to some analysts, if positive news comes, the price of Pi Coin could test the $1 level in the short term.
PLEASE READ CAREFULLY FOR A $10 GIFT FOR 170 PEOPLE.
Friends who have not yet activated the futures section will earn $10 by entering my referral code 88623008 when they activate the futures section. The first 170 people will benefit from this reward.
I AM EXPLAINING IN DETAIL.
My brothers who registered on Binance without a referral, please listen carefully;
You will earn $10 USDT when you follow my instructions in order.
Enter the Futures section from your application.
Enter the code 88623008 in the REFERRAL CODE section on the next screen to open your account.
Brothers who want to receive a $10 USDT reward by completing this transaction by April 10 can do so. After this, it will be sufficient to have a trading volume of $30 after activating your account. However, even if you do this transaction after April 10, your reward will not come. Therefore, I recommend you to handle it within 5 seconds.
THE SYSTEM WORKS ON A FIRST COME, FIRST SERVED BASIS. THEREFORE, DO NOT BE LATE TO RECEIVE YOUR GIFT. IT IS LIMITED TO 170 PEOPLE.
PLEASE READ CAREFULLY FOR A $3,300 GIFT.
Friends, you know we do our best for you as publishers. We communicate the services and opportunities provided to us by our authorities. I have never withheld my support for both the cryptocurrency market and you; on the contrary, I strive to provide more support.
Now I will explain how to claim your gift. First, those of you who have not opened a futures trading account need to activate this account with a short transaction. I will explain how to activate it in detail and simply.
So who can benefit?
Friends who have not yet activated the Futures section can do so by entering my referral code 88623008 when opening the FUTURES section. It is an easy process. I have shown where it is below.