Pi Network Price Analysis: Will $0.6477 Breakout Start the Next Bull Run?

Key Takeaways:

• Although there is strong resistance at $0.6477, the PI token has a brief comeback.
• Bullish mood was suggested by the more than 41 million $Pi that moved off exchanges.
• With more than 12 million people onboarded, the mainnet migration is moving forward gradually.

At $0.6305, the Pi Network (PI) has lost 2.21% during the past day. Last week, it lost 15.01% of its value, a sign of general market pressure. At $92.82 million, its 24-hour trading volume has decreased by 39.63%, a sign of waning short-term interest.

With a loss of 2.21% over the past 24 hours, the Pi Network (PI) is now trading at $0.6305. Its 15.01% weekly decline is indicative of market pressure as a whole. The 39.63% drop in 24-hour trading volume to $92.82 million suggests waning interest in the near term.

For a better chance of success, traders should enter cautiously during retracements towards the pivot at $0.6335, and they should aim to break over $0.6477 to pave the road to $0.7720. But sellers, there are still potential negative risks. The optimal course of action is to maintain holdings below $0.6202 (S1). Although dropping volume is supporting a weak market structure, healthy liquidity levels of 3.45% are a necessary requirement.

/ You can claim a welcome reward of up to 10,055 USDT🎁\

Exchange Outflows Could Signal a Price Breakout for the Pi Network

The last two days have seen a dramatic shift as over 41 million $Pi tokens, with a market value of around $27 million, have departed exchanges like OKX. This usually indicates HODLing or long-term stockpiling since it drastically reduces the supply of circulating currency.

Such selloffs are seen by crypto experts as bullish, suggesting that holders are showing more faith in PI’s future value potential. With less supply available for trading, a future increase in demand might push prices higher, potentially breaking through resistance levels.

/ You can claim a welcome reward of up to 10,055 USDT🎁\

Mining Rewards with Pi Tokenomics at 65%

Over 12 million users have successfully migrated to the Pi Network Mainnet. Years of mining, know-your-customer checks, and ecosystem contributions went into the migration, which is not your average token airdrop. Rather, it’s a multi-layer process. At the moment, our main goal is to finish the first stage of the migrations, which includes validated awards in several categories.

The second round of migrations, which will incorporate referral bonuses and additional incentive models, will take center stage once the first batch is finished. In order to keep user integration and balancing continuing, the roadmap also includes periodic migration cycles.

The 100 billion token supply is the basis of Pi’s tokenomics, with 65% of the value coming from community mining rewards. The migration rate is supported by the residual balance structure, which allocates transparent and proportional amounts to the Core Team, liquidity, foundation, and network.

There will be significant shifts in the PI market trajectory brought about by the migration process and token scarcity as the project moves closer to Open Network status.

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