Recent data indicates that Pi Network prices are dropping due to a lack of investor interest and negative market sentiments.
Challenges in Pi Network Price Growth
Since July 15, the Pi Network price has been trading between $0.43 and $0.46. Attempts to break through the upper threshold have been unsuccessful, with the current price at $0.4412, reflecting a 0.97% decline on the day.
Negative Market Sentiment
The current weighted sentiment score for the PI token is -0.558, indicating strong bearish sentiment among traders and the community. The negative net token flow from centralized exchanges further adds pressure to the market.
Upcoming Token Unlock
Next week, 10.8 million PI tokens are scheduled for unlock, marking the largest such event in the next 30 days. Given the current market sentiment, this could exert additional downward pressure on the price.
Without shifts in fundamental indicators and amid current negative interest, Pi Network prices may continue to decline.
