The PI network coin has been a top lagard in the Crypto market this year as it has crashed up to about 90% from its highest level in February.
Summary
- The PI network token has crashed up to about 90% from year to year.
- It has several headwinds, including daily token unlock and lack of demand.
- Pie coin can reversed as a potential catalyst such as the exchange listing app.
Pi Coin (Pi) token was trading on Saturday, August 5 at $ 0.400, a foul point over a lower level of $ 0.3198 this month.
Is PI coin a good purchase today?
One of the most popular cryptocurrency, the PI network has experienced a significant decline this year as many pioneers sold their tokens and unlock. Its daily unlock has increased its affair to more than 7.88 billion, a process that will continue in the future.
PI Coin has recently dropped Network News as an inventor, including the launch of PI Network Ventures and AI Studio. PNV is a $ 100 million fund designed to invest in ecosystem. It has not made any investment three months after its launch.
Pi AI Studio was the product of Pi Network that is a product to take advantage of it that allows users to create AI chatbots and applications.
The PI network price has also been created, as most Tier -1 and Tier -2 exchanges have ignored it. It is now listed in exchanges like Okx, Bitget, Mexc and Gate.
Other popular exchanges, such as Binance, Crypto.com, and Coinbase, have to list it, possibly die for its centralization, as unclear PI Foundation holds more than 90 billion tokens. This pressure will be like lower pulling in the near period.
On the positive side, the PI network value has been a deal as its price has fallen. It also has a potential catalyst, including an Executive listing announcement and who buying. The data released this week revealed that the mysterious wallet bought 350 million PI tokens, priced at $ 141 million.
Pie network price technical analysis
The 12-hour chart suggests that the PI coin has crashed from its all-time high as demand. This is in the last few weeks, Mohammad is sideways, pushing the average true boundary downwards.
Outgoing consolidation is an indication that it has entered the accumulation phase of the Wyckoff theory, which often leads to a breakout when transmitted in the delivery phase.
The relative power index and MACD indicators are also posted upwards. Therefore, the token prefers to experience a rapid breakot, powerfully reaches the resistance level at $ 1.6641, its highest point in May, which level.
