In trading on Wednesday, the price of Pi Network (PI) continued to decline, approaching the all-time low (ATL) set on August 1 at $0.322. Currently, PI is trading at around $0.340, down nearly 17% from the beginning of the month.
According to data from PiScan, in the upcoming September, over 149 million PI tokens will be unlocked, worth approximately $50.71 million. This unlocking event could increase selling pressure in the market, as a sudden increase in supply often leads to price declines, although part of the impact has been anticipated and adjusted by investors.
Liquidity and interest levels are declining
In addition to the pressure from token unlocking, data from Artemis Terminal shows that the daily trading volume of PI has gradually decreased since mid-May. On Tuesday, the trading volume only reached $43.8 million, reflecting a cooling off and liquidity decline in the market. This is a warning signal for investors that market sentiment is weakening.
Price Forecast for Pi Network
If the downtrend continues, PI may fall back to the ATL level of $0.322. Conversely, if buying pressure increases again, the price could recover to the daily resistance level of $0.400. However, with declining trading volume and a major unlocking event coming up, the risk of price adjustment remains very high. Investors need to closely monitor unlocking events and liquidity fluctuations to adjust their trading strategies, avoiding sudden sell-off situations.
Register a Binance account to receive permanent trading fee rebates:
- New account registration link: https://accounts.binance.com/register?ref=Q2FSX523
- Referral code: Q2FSX523
