Pie Crypto Price continued its freefall this week, reaching its lowest level from February.
Summary
- The pie token has fallen more than 86% from its all -time high, colliding between oversply and weak demand $ 0.40.
- Limited Exchange Listing and unsuccessful developer initiative hurt the adoption, even wide crypto bull run to Dungar.
- A double -bottom pattern suggests a harmless 324% turn if a tier -1 exchange listing increases a small squeeze.
PI Network (PI) Downs on a lower level of token $
Tokens have declined due to lack of demand between their oversupply and inversions. Its circulating supplement has exceeded 7.76 million, unlocking millions of tokens in a month.
At the same time, the daily volume reminds me of $ 100 million -an indication that the demand is decreasing. The lack of demand is partially due to a handful of exchanges such as Okx, Bitget and Mexc.
As a result, there is no access to users of key exchanges such as binance, upbit, and coinbase.
All the action takes the devilopers seriously, the main launch has failed to encourage the investor’s demand. Notable initiatives include the launch of $ 100 million PI Network Ventures, .PI domain auction, director staging and PI AI Studio.
The most important thing is that the PI coin price continued to fall as a crypto bull run in July. This was one of the top 100 coins when bitcoin (BTC) increased to a record high.
Historical data suggests that only a Tier -1 exchange listing can trigger a small squeeze. Some of the most notable exchanges that can run a double-double-or-triple-contingent growth include benns, upbits, and coinbase.
For example, the Omni price increased by more than 100% after its approach listing this week, which ERCA increased to more than 200% and Arkm to more than 55%. As more popular cryptocurrency, PI will have more benefits.
Pie crypto price price analysis
Technical indicators suggest that the situation may mature to a PI short squeeze. Tokens have formed a huge door-boatum pattern at $ 0.4016, with a neckline at $ 1.6728. A double bottom type a straps indicates a strap bullish breakout.
PI also appears in the accumulation phase of Wyckoff theory, which may be before the markup phase, where a donkey rapidly. If it plays the pattern, the PI count increases with a neckline target of $ 1.6728, which represents a potential 324% profit from the current levels.