📉 Migration Jitters Hit Pi Network — Can Bulls Defend the $0.60 Line?
Pi Network (PI) is again in the limelight as its price fails to breach $0.66. After a minor rebound from recent lows at $0.60, Pi Coin has been stuck in a tighter range for four sessions.
Analysts believe this coiling pattern indicates a strong move ahead, either a breakout or collapse.
Pi Network Coin now trades at $0.65 after numerous intraday pushes toward $0.66 failed. The price action is range-bound, with lesser volatility and volume as traders anticipate a mood move.
Pi Network market fundamentals worsen off the charts. Holderscan data reveals that the number of PI holders has stalled around 14,952, with few new additions. Growing dissatisfaction among early adopters explains this standstill.
Pi Network has witnessed a month-long trend of investors quietly withdrawing, said analyst Aaryamann Shrivastava. “This declining participation is eroding confidence in the project’s near-term prospects.”
User anger over Pi Network Coin migration troubles adds to the strain. Many customers have complained on social media about a second round of migration requirements, especially because some are still in KYC statuses.
Community Frustration Grows from Migration Issues
While the second migration garners attention, Pi Network's Validation Bonus is not addressed in community discussions or the plan. Source: PiNetwork Times via X
“This Pi thing is nonsense. After years of mining, we can't get our coin," one X user complained about Pi's cryptocurrency development.
Although fake accounts claimed a second migration phase had started, the Pi Core Team has not confirmed it. Users continue to be confused by unexpected app requests for further authentication.
276 Million Token Unlock Could Rock Pi Network
Pi crypto faces a major hurdle with the June issuance of 276 million PI coins. This release, worth $176 million, may flood the market with fresh supply and lower the Pi currency value.
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