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Pi Network at Critical Juncture as PI Token Nears All-Time Low
Pi Network at Critical Juncture as PI Token Nears All-Time Low
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[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
Pi Network's token faces intense selling pressure as its value approaches historic lows. The project, initially celebrated for its accessible mobile mining model, now struggles with rapid depreciation. Pi is currently trading at $0.42, perilously close to breaking through the $0.40 psychological support level.
Exchange data reveals concerning trends: 405 million PI tokens are now held on trading platforms, marking a 10% increase since July. The situation may worsen with August's scheduled release of 161.6 million additional tokens, potentially flooding the market. Technical indicators like MACD's bearish crossover and Squeeze Momentum's black dots point to continued downward volatility in the NEAR term.
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