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Pi Network’s PI Token Plummets 70% in Two Months: Can It Recover?
Pi Network’s PI Token Plummets 70% in Two Months: Can It Recover?
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[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
Pi Network's Pi token has experienced a sharp 70% decline since mid-May, currently trading around $0.45 as millions of unlocked tokens enter the market. The project faces significant pressure from its inflationary tokenomics, with 246 million coins set to unlock within the next 30 days—including 16.4 million on July 10 alone.
Market sentiment remains split. Bears highlight continuous sell pressure from early miners taking profits, while bulls point to oversold RSI levels NEAR 30 as a possible reversal indicator. "The core issue is supply shock," notes analyst Zoe, proposing a token burn mechanism to stabilize prices. Some traders still aim for $5, banking on speculative momentum to outweigh fundamental weaknesses.
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