Analysis of the current market situation for Pi Coin in light of recent updates and upcoming events.
Trading Situation and News
Currently, Pi Coin is trading at $0.5423, reflecting a 0.9% increase in the last 24 hours. The development team provided a 100-day update since the launch of the Open Network, which slightly supported the price of Pi after recent declines.
Risks and Concerns
However, the situation remains risky. Exchange wallet balances are rising, which may indicate that investors are preparing to sell their tokens. A large number of tokens are expected to enter the market in June and July, which could further pressure Pi's price.
July Forecasts and New Levels
With Pi Day approaching on June 28, the community is awaiting key updates, especially regarding GCV, valuing 1 Pi at $314,159. If the Core Team announces the open mainnet or addresses GCV, it could trigger price increases. Conversely, silence could lead to mass sell-offs. Predictions suggest that by the end of the week, Pi Coin could trade between $0.60 and $0.74 with the potential for strong rallying above $0.74.
The situation surrounding Pi Coin remains uncertain, with a mix of supportive and pressuring factors. Observations on the market in the coming weeks may provide crucial clues about the future price direction.
