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Key Takeaways
- Pi Network Coin has plunged 9% while Bitcoin and Ethereum see strong gains.
- Over 100 million Pi tokens are being unlocked this week, pressuring prices further.
- With low volume and weak RSI, Pi Coin faces a challenging road ahead unless major bullish catalysts emerge.
While Bitcoin breaks new records and Ethereum pushes past key levels, Pi Network Coin is going the opposite way. Despite a recent Pi2Day celebration and broader market momentum, Pi Coin is sinking fast—down 9% in the past 24 hours and edging dangerously close to its all-time low of $0.40.
Pi Coin Falls Despite Market Rally
As of today, Pi Coin trades around $0.471, marking a 9% daily drop and a brutal 29% decline over the past two weeks. Meanwhile, the rest of the market is flashing green. Bitcoin has surged above $118,000, and Ethereum is confidently trading above $3,000.
Even a marketing push from Pi2Day, intended to reignite community excitement, failed to buoy prices. Instead, the coin continues to drift lower, raising serious questions about sentiment, demand, and sustainability.
Massive Token Unlock Intensifies Sell Pressure
Much of the recent price pressure is being attributed to a massive ongoing token unlock. Between July 8 and July 15, over 100 million PI tokens—representing 1.5% of total supply—are set to hit the market. On just one of those days, a staggering 10.1 million tokens were released.
Such events typically drive prices lower as large holders look to offload tokens, overwhelming buyer demand. Whale activity appears to be picking up, with profit-taking adding to the already-heavy selling pressure.
Weak Technicals Paint a Bearish Picture
From a technical standpoint, Pi Coin isn’t offering any relief. The price remains trapped within a clear downward channel, with each rally attempt being firmly rejected by sellers. Trading volume remains low at just $19.95 million, further underscoring the lack of strong buyer interest.
Meanwhile, the Relative Strength Index (RSI) sits at 39.8, indicating that Pi is nearing oversold territory—but not quite enough to confirm a rebound is imminent.
Also Read: Pi Coin Price Could Soar 46x by 2030 as Pi Network Taps Into $16 Trillion AI Market
Without a clear catalyst such as a major exchange listing, institutional backing, or an injection of liquidity, the outlook for Pi remains bleak. If current trends continue, Pi Coin could fall back to its all-time low of $0.40—or worse, extend losses toward $0.35.
Unless buying interest surges or new developments are announced, Pi Coin may remain stuck in this downtrend, especially with more token unlocks on the horizon.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
