Explosive! Pi Network Integration Delay, August Unlock May Become Price 'Meat Grinder'!!!

Today we must talk about the hot topic in the cryptocurrency world, Pi Network. Recently, things haven't been going well for Pi Network; the price has been plummeting and is on the verge of breaking below the critical level of $0.4, which is the historical low it hit on June 13. If it really falls below this, the future will be hard to predict.

First, let’s talk about the token unlock situation. In August, Pi Network is set to unlock a large batch of tokens, totaling 1.616 million, which will increase the circulating supply by 2.09%. This is not a small number, and it's the largest unlock before December, when another 1.705 million will be unlocked. With so many tokens entering the market suddenly, the selling pressure will definitely increase significantly. It’s like there were originally 100 people selling things in the market, and now suddenly there are 200 more sellers; how can the price not drop? Those investors hoping for a rebound in PI should be careful; the unlock event is like a ticking time bomb that could cause the price to drop further at any time.

Let’s also take a look at the situation with Onramp Money integrating PI tokens, which has also been fraught with problems.

Onramp Money said on Tuesday that the PI integration is still ongoing, expecting to launch services in the second or third week of August, allowing users to buy PI tokens with fiat currency. However, as of now, even though the Pi Network app shows options for Banxa and TransFi, Onramp Money has not officially announced anything. This has caused a lot of uncertainty among investors, making them hesitant to jump in. Everyone was originally hoping that the launch would drive the price up, but now it has been delayed, causing considerable damage to the price.

From the price trend, Pi Network has dropped 17% in July, and this downward trend has not stopped. If it significantly falls below $0.4, it may drop to the S1 pivot point of $0.3837, or even lower to the S2 pivot point of $0.2585. Of course, there is still a chance for a rebound; if PI can rise above $0.5, the downward trend might just reverse.

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