The price of Pi Token from Pi Network is experiencing strong fluctuations, dropping from $0.52 to around $0.45, while trading volume is also declining.
The Pi token maintains the important support level of $0.40 before the pressure of unlocking a large number of tokens in the summer of 2025, while experts predict that the lowest price may be approaching, preparing for a rebound trend.
MAIN CONTENT
The price of Pi is experiencing many fluctuations due to the consolidation phase and declining trading volume.
The support level of $0.40 has been maintained despite a large number of tokens being unlocked in 2025.
The opportunity for a price breakout with new targets in the future is expected based on the development of the ecosystem.
How has the price of Pi Token fluctuated recently?
Cryptocurrency market analysts say that Pi Token has been under selling pressure from $0.52 down to around $0.45 due to the cryptocurrency market being characterized by rapid upswings and strong corrections.
In many cryptocurrency markets, the phenomenon of pump and then dump often occurs when tokens enter a consolidation phase to establish a new stable price level. Moreover, gradually decreasing trading volume is a sign that the market is in a 'cooling-off' phase before the next transition.
What is the importance of the $0.40 support level for Pi Token?
According to analytical data and opinions from various experts in the cryptocurrency field, the price level of $0.40 serves as a key support threshold for Pi. This is an ideal balance point under pressure from unlocking up to 276 million Pi tokens in the latter half of 2025.
Despite a large new supply being released, the price of Pi has not witnessed a significant collapse, demonstrating the solid appeal of the token within the community and among investors.
The price maintaining around the support level of $0.40 indicates potential resilience and the steadfastness of Pi against upcoming market turbulence.
– Dr. Altcoin, Cryptocurrency Analyst, 06/2024
What is the forecast for the price trend of Pi in the near future?
Recent analyses from leading cryptocurrency analysts indicate that the unlocking trend of Pi tokens is expected to decrease by at least 30% from the end of August 2024. This is a positive signal supporting the lowest price levels established in July and August, which could be the final price bottom before entering a long-term growth phase.
Additionally, if Pi breaks through the current downtrend channel, the new expected price targets will be $0.98, $1.38, and even $1.67 in the coming months. A breakout above the $0.60 threshold will be an important signal forecasting the upward momentum towards the $1 mark.
How is the Pi Network ecosystem developing and how does it affect the price of the token?
Experts in the industry note that Pi Network is striving to build an ecosystem with many DApps and new projects, creating real use cases for Pi Token. The expansion of this ecosystem is an important foundation that contributes to enhancing long-term value, even though the currently increasing circulating supply is temporarily exerting downward pressure.
Sustainable development and the expansion of technology applications not only help increase liquidity but also strengthen investor confidence, creating opportunities for sustainable growth for Pi in the future.
We are laying a solid foundation for the Pi ecosystem by enhancing practical applications; this is a long-term growth strategy to help the token realize its true value.
– CEO Pi Network, Statement June 2024
Frequently Asked Questions
Can the price of Pi Token drop deeper than $0.40? According to in-depth analysis, $0.40 is a strong support level, unlikely to drop further due to the unlocking pressure decreasing from the end of August. How will the unlocking of 276 million Pi tokens affect the market? Although it temporarily exerts supply pressure, the price of Pi has not plummeted sharply, indicating good market absorption and stable demand volume. When can the price of Pi break through the $0.60 mark? Experts predict that if the overall cryptocurrency market is favorable, Pi may break through this threshold in the coming months, expanding its upward price trend. How does the development of the Pi ecosystem affect the price? The expansion of applications helps increase the utility value of the token, reinforces investor confidence, and creates momentum for long-term price growth. Can Pi Network reach the $1 mark in 2024? Based on technical analysis and the gradually decreasing unlocking trend, the $1 target may be achievable if market conditions stabilize and the upward momentum is maintained.
Source: https://tintucbitcoin.com/pi-network-se-tro-lai-1-usd/
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