The price of Pi Coin has recorded a rise of over 5%, reflecting renewed confidence among cryptocurrency market participants. This event has sparked discussions among Pi community members.
Pi Coin Price Growth
Recently, the global cryptocurrency market showed an increase of over 4% in its market cap, hitting $3.25 trillion, indicating growing confidence from traders in digital assets. Notably, Pi Coin's price rose to $0.5328, despite previously dropping below the $0.5 support level to $0.4961.
Analysts Share Optimistic Outlook
Analyst Dr Altcoin expressed confidence that the price of Pi Coin is unlikely to dip below its all-time low of $0.4. He had previously made more pessimistic predictions, raising concerns about the asset's future, but his recent comments may bolster market confidence.
Focus on Pi Coin Unlock
Dr Altcoin mentioned that an 'organic price increase' for Pi Coin might be observed towards the end of August with the start of a significant reduction in unlocked Pi supply. In July, a total of 274.1 million Pi Network tokens will unlock, worth $145.81 million, whereas in August only 132.5 million coins, valued at $70.5 million, will unlock, which might contribute to the price growth.
The increased discussions and the restoration of market confidence highlight interest in Pi Coin, which may lead to further price growth, particularly with the anticipated unlocking of tokens in the future.
