Pi Network Defends Key Support Amid Supply Concerns and AI-Driven Hype

Pi Network's price has shown resilience, holding steady NEAR $0.477 in early July. Bullish traders are actively defending this critical level to prevent a drop that could challenge its all-time low. Technical indicators suggest consolidation, leaving market participants uncertain about the token's next directional move.

PiScan data reveals a significant upcoming challenge: over 300 million tokens are scheduled to unlock within 30 days. Historical trends indicate this could create downward pressure for PI, as past demand has consistently failed to absorb similar supply increases.

Despite these bearish fundamentals, AI-fueled Optimism is growing. The Pi News X account suggests PI might soon print "the largest green candle in crypto history," while teasing potential surprises for investors. The Core team's development push through Pi App Studio appears to be a strategic attempt to improve the coin's market perception.