Can It Break $1 Before 223M

admin4 days ago

0 45 2 minutes read

The PI coin price for $ 0.66, which requires a close up to $ 0.66 to target $ 1, or higher risk.
5.8 million PI tokens locked today and 223 million more than 30 days, increasing the seller's pressure.
Highly circulating supply (6.9 billion tokens) and limited real-world weight weighs in the long-term reversal.

5.8 million PI tokens locked today as 223 million more on the way, upgrading downside risks

Pi coin Those who remain stuck below $ 0.70 even after a moderate 3% gain of intraday, with a flow of newly locked tokens looking to drag prices against poor demand.

Today, the unlocking of approximately 5.8 million PI tokens is witnessed from the lockup, and a larger tranche 223 million tokens. That is set to be trained within the next 30 days. This supply tsunami arises as the demand satisfaction is muttered, and it can contribute to downward pressure

At about $ 0.66 per token, PI is trying a major support level. A close above $ 0.66 can provide the way for a rebound at $ 1.00, according to some analysts. But if $ 0.66 fails, the flood of tokens can enhance the sale of pressure and push prices.

Since its exchanging debut in February, the PI Coin price has experienced intense volatility that has increased to highs close to $ 3 before falling to nearly $ 0.40. Many early miners and long -term holders, especially those who have been active since 2019 and 2020, have not failed in rapid decline.

Three main factors undergoing Pi's struggles:

1. Sale of pressure after unlocking
Like other AirDrop tokens, PI will see strong sales when the locking periods end. Most of its bases especially in Africa and Asia have decided to sell tokens for cash, which puts more supply in the market.

2. Too token supply
PI has a circulating -switch supply of more than 6.9 billion tokens and a potential maximum issue of nearly 100 billion. That is compared to the fixed Bitcoin supply of 21 million. And in these conditions, lofty target prices (such as $ 10 or $ 100) are not likely.

3. Practical use is limited
Although Pi sees herself growing up as a de facto digital currency, real-world adoption is limited. Fewer than a small number of merchants take PI, limiting the demand to -Fuel by actual use.

In the way -millions of tokens to enter the market over the next few weeks and no bright catalyst for fresh purchase pressure, the Pi Coin price position is not good unless the sentiment on market changes or growth growth.