The PI is struggling to record any bullish momentum, and all indicators suggest This may continue The expected future. Since its launch, the price of the PI network has decreased by about 88 %, leaving many of the first supporters and their holders concerned about its future. Modern market data shows that the decrease can be attributed to the opening of the huge distinctive symbol and poor liquidity to the exchange of encryption. Moreover, new developments show that unless market dynamics improve, PI may face more declines in the coming months.
Heavy pressure PI due to the opening of the distinctive symbol
PI work It was full of landing, With data that shows cryptocurrency across multiple time frames. At the time of writing this report, the distinctive symbol is currently moving between $ 0.353 and $ 0.3606 with poor liquidity and continuing to open symbols. The disclosure did nothing to help put things.
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One of the biggest effects behind the PI’s landline is the constant version of unlawful codes on the market. PI was created with at least 100 billion icons, but only 8 billion of those currently circulated. The features are prepared so that the symbols are opened in trading every day.
according to Data from PeskanThere are about 5 billion closed PI codes at the present time, and 135.7 million of them are to be opened in the next thirty days. It is worth noting that the event of one opening added about 163 million PI icons at a value of about $ 60 million in trading, a step that contributed to the low price of the encrypted currency.
There are expected to have more distinctive symbol openings in the near future, and the increase in the supply of demand has exceeded demand. PISCAN data shows that about 4.5 million PI worth $ 1.614 million are issued daily. The problem of excessive presentation can leave the price of the PI network at risk, and each symbolic version can weaken the value of those in the blood circulation.
Moreover, the current PI’s current requests books via many very thin exchanges, leaving a very few buyers on the market to absorb the pressure wave.
Project delay: calls for bold work
The delay in the development of the PI network contributed to doubts between many investors. Kyc start a long time ago, V23 upgradeThe main decentralization is placed in frustration among users who expected faster progress.
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In a lengthy post on the social media platform X, a prominent community member SPOCK urged Pi Core to take what he described As bold economic steps To restore stability and build a valuable and sustainable economy. He called for a comprehensive program for re -purchasing and burning, noting that aggressive contraction measures are the only way to protect the value of PI. According to him, the basic team must buy PI from the open market, burn all transactions fees permanently instead of recycling, and stop floating the market with excess supply.
He also suggested that the PI mining model should be reviewed either by completely terminating the width lock or by inserting the mining -based mining that rewards only those who contribute to a real value to the ecosystem.
At the time of this report, the PI network is traded at $ 0.352, a 1 % decrease over the past 24 hours. It can ensure a decrease of less than $ 0.350 to a further decline to $ 0.34.
Distinctive image from Medium, Chart from TradingView.com
The post Pi Network Price Crashes 88% Since Launch, New Developments Say Further Decline Is Coming first appeared on Investorempires.com.
