Pi Network Under Fire 🔥 – Heavy Selling Pressure from Token
koinmilyoner
Updated at: 2 hours ago
{"content":"Pi Network Under Fire 🔥 – Heavy Selling Pressure from Token Unlocks
All data show Pi Coin will continue to struggle with upward momentum. Many early supporters and holders are apprehensive about the Pi Network's survival after its 88% price drop since inception. Recent market data attributes the decrease to huge token unlocks and limited crypto exchange liquidity. New findings suggest that Pi Network may decrease more in the next months unless market dynamics change.
High Sales Pressure Pi for Token Unlocks
Pi's price has fallen throughout several times. The coin is now trading between $0.353 and $0.3606 due to weak liquidity and ongoing unlocking. Unlocks haven't helped.
The constant delivery of unlocked tokens has contributed to Pi Network's downturn. Pi's maximum supply was 100 billion tokens, however only 8 billion are in circulation. Daily token releases are part of its tokenomics.
PiScan estimates that 5 billion Pi Network tokens are locked, and 135.7 million will be opened in 30 days. One unlock event released 163 million PI tokens worth $60 million, significantly depressing the cryptocurrency's price.
With circulation supply outpacing demand, more token unlocks are likely soon. PiScan reports 4.5 million Pi valued $1.614 million issued daily. Oversupply might make Pi Network's price fragile, and each token issuance could lower its value.
Additionally, Pi Network order books on some exchanges are very small, leaving too few buyers to absorb the selling pressure.
Project Delays: Bold Action needed
Investors are skeptical due to Pi Network's development delays. Users who expected quicker development are frustrated with the long-promised KYC deployment, V23 upgrade, and complete mainnet decentralisation.
He also advised Pi to either halt mining to lock up supply or switch to utility-based mining, which rewards only ecosystem contributors.
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