PI Targets $0.60 — Can Sluggish Supply Unlock the Next Bull Run? 🔓🚀
Pi Network’s token dynamics are shifting — and it could set the stage for a potential breakout. Following last month’s unmet allocation target, the Pi Core Team announced an increase in mining incentives to encourage participation. Users can now significantly boost their mining rate — up to 600% — simply by locking in their PI tokens via the mobile app. The longer the lock-up, the higher the yield.
Why does this matter? Because fewer circulating tokens mean reduced market supply — and that historically favors price upside.
According to PiScan, a major supply drop is coming. On July 11, only 10.5 million PI will be unlocked — nearly half the amount being released tomorrow (19.4 million PI). This slowdown in unlocks could create a bullish supply shock, especially if more users opt into the extended lock-up plan.
From a technical perspective, PI recently bounced from a critical support level at $0.4790, halting the post–"Pi Day" decline. More importantly, it has just broken out of a falling wedge pattern on the 4-hour chart — a classic bullish reversal signal. If the trend holds, $0.5900–$0.60 becomes the next logical upside target.
However, risks remain. If price dips below $0.4750, bearish pressure could return and test all-time lows.
Whether Pi’s staking program — which currently offers no staking rewards — gains enough traction remains to be seen. But with shrinking supply and a chart breakout in motion, all eyes are now on the bulls.
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