Pi Coin Market Analysis: Upward Trend and Selling Pressure Outlook
Since its launch, Pi Coin has experienced significant volatility. After an initial washout, the coin price skyrocketed threefold in a short period, leaving many investors dazzled. However, as the coin price rose rapidly, the market began to focus on whether it would soon face a correction.
Selling Pressure Analysis
1. Coin Hoarders and KYC Users
The first batch of potential selling pressure mainly comes from coin hoarders and a small number of KYC-mapped users. During the $0.2 to $0.3 period, some speculators hoarded Pi Coins through small OTC exchanges, but most of these have been cleared at the opening. It is noteworthy that coin hoarders must complete KYC certification to use wallets for hoarding coins, and most KYC users have not yet completed mapping, so the actual selling pressure is limited.
2. Promoters and Base Coins
Although promoters hold a large amount of Pi Coins, these coins are all base coins, which cannot be mapped and are restricted by KYC certification, making them non-circulating. Currently, the total amount of Pi Coins circulating in exchanges is less than 200 million, mainly held by operators, believers, and a small number of short-term speculators. The price of the coin is highly volatile, but very few can hold it for the long term.
Market Outlook
Overall, the current selling pressure in the Pi Coin market is limited, and the coin price is expected to rise further. In the short term, the market is mainly dominated by believers and operators, making it difficult for speculators to form effective selling pressure. As for pioneer users, the coins they hold still face KYC certification bottlenecks in the next three years, making it difficult to create selling pressure in the short term.
Therefore, from a short to medium-term perspective, the price of Pi Coin is still viewed positively. However, it should be emphasized that this analysis is merely a personal opinion and does not constitute an evaluation or devaluation of the project.
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