As the PI token seems ready to finally explode, a major event could change everything: a token unlock valued at several million dollars. Investors are questioning: should we believe or flee before the storm? Here’s what the analysis reveals.
Can we still believe in a surge of Pi Network?
Pi is currently trading around $0.64, down about 2.35% over the month. While it is at a key support level, some indicators remain negative and trading volume is decreasing. However, a triple bottom pattern is forming on the charts, indicating that a significant price rebound could occur soon. If the token manages to climb above $0.80, it could experience a strong rally.
But there are also elements that could exert downward pressure. More than 340 million Pi tokens will indeed be unlocked in the next 30 days. This massive issuance could encourage more people to trade and use Pi, but it could also put pressure on the price.
Beware of these major risks
But there are also elements that could exert downward pressure. More than 340 million Pi tokens will indeed be unlocked in the next 30 days. This massive issuance could encourage more people to trade and use Pi, but it could also put pressure on the price.
Recently, 200 million PI tokens were also withdrawn from the liquidity reserves and sent to a new wallet. Some experts believe it was a private 'over-the-counter' transaction. This has sparked discussions about the possible involvement of large investors.
Finally, there is the ongoing debate about the dual value system of Pi. On public markets, Pi is trading below $1. But within the network, the Global Consensus Value (GCV) is set at $314,159 per token – a huge difference that has sparked confusion and debate.
Despite these challenges, interest in the Pi Network is on the rise, with social dominance reaching new heights. Upcoming key events could contribute to a price appreciation. However, the massive issuance of tokens and other negative factors remain to be closely monitored. Investors will need to navigate cautiously during this pivotal time for the project.