🔥 PI Targets $0.60 as Supply Squeeze Builds — Is the Bull Run Loading?
Pi Network (PI) may be gearing up for a breakout as token dynamics shift in favor of the bulls. With last month’s token allocation target falling short, the mining rate is set to increase, slowing down the actual growth in circulating supply — a key bullish signal.
📉 Fewer Tokens, More Demand?
Pi holders can now lock up their tokens via the app, potentially boosting mining rewards by up to 600% depending on the duration. If a large number of miners opt in, the available supply could shrink rapidly, creating conditions for a supply shock rally.
📅 Key Date: July 11
According to PiScan, only 10.5M PI will be unlocked on July 11 — a sharp drop from the 19.4M PI set to be released tomorrow. Less unlocked supply means less sell pressure and potentially more upside.
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🔍 Technical Analysis
The 4H chart shows $PI rebounded strongly from the key $0.4790 support, just after the Pi Day dip. It has broken out of a falling wedge pattern, often a signal of trend reversal.
🟢 If the rally continues, the next upside target is $0.5900 — a key resistance level.
🔴 However, if $PI drops below $0.4750, a retest of the all-time low could be on the cards.
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🚨 What to Watch
Pi’s new staking program allows users to lock tokens and rate ecosystem apps — but without yield incentives, adoption may be limited in the short term.
Still, with falling unlocks, a locked-up supply surge, and a technical breakout, the setup looks primed for a bullish move — if momentum holds.
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#Pi #PiNetwork #PiCoreTeam #PiCoin #CryptoNews #AltcoinSeason #BinanceSquare #CryptoBreakout #BTC #ETH #SOL #Web3 #StakingCrypto