Recently, Pi Network has faced negative trends, including price declines and potential market pressures due to upcoming token unlocks.
Current Market Indicators of Pi Network
Today, Pi Network shows a decline of 2.5% over the last 24 hours and 23.9% for the month. This outcome is influenced by technical indicators such as the Exponential Moving Average (EMA), Relative Strength Index (RSI), and MACD, which confirm the bearish trend.
Risks Associated with Token Unlock
In June and July, a high token unlock is expected for Pi Network, which may reach 413 million tokens. This significantly exceeds the average unlock volume, raising concerns about oversupply. Users on Reddit express opinions about potential negative consequences.
Impact of Public Opinion and Analysts
Recent decisions by Pi Network to bifurcate domain auctions into a standalone app also raise concerns. Community discussions address technical difficulties related to user access to domains. Analysts predict that prices could fall to the $0.40 level if significant improvement in market conditions does not occur.
Pi Network is in a challenging situation due to technical issues and upcoming token unlocks, creating risks for price stability and future development.
