In a market dominated by declines, Pi Network's native token has managed to stand out with a surprising uptick. While major cryptocurrencies like Bitcoin, Ethereum, XRP, and Solana are experiencing significant losses, Pi's resilience raises questions about its future amidst potential challenges. According to the official information, this unexpected performance could indicate a shift in investor sentiment.
Pi Network Token Performance
As of the latest update, Pi Network's token has seen a 3% increase since last Wednesday, with a daily rise of over 4%, bringing its trading price close to $0.235. This performance is particularly noteworthy given the broader market's downturn, where many larger-cap altcoins are down by double digits weekly.
Concerns Over Upcoming Token Release
However, the outlook may not be entirely positive. A concerning factor is the impending release of a substantial number of Pi tokens in the coming month. Today alone, 4 million coins are set to be unlocked, but this is just the beginning. Over the next 30 days, an average of nearly 55 million tokens will be released, which could lead to increased selling pressure and potentially hinder the token's recent gains.
While Pi Network's token shows resilience amidst market declines, Pumpfun has recently launched an innovative token system that enhances user engagement in the DeFi sector. For more details, see Pumpfun's launch.
