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Pi Network Reverses Weekend Gains, Is Pi Coin Price Crash to $0.3 Coming?
The recent surge of the Pi Coin’s price has been reversed over the weekend, leaving many wondering if the cryptocurrency will continue its downward trend and potentially crash to as low as $0.3.
According to recent data, the average daily unlock of Pi Coin has dropped significantly, with an astonishing 5,165,585.82 π tokens being unlocked per day. This substantial decrease in unlocks could be a sign that the token’s availability will start to dwindle, potentially fueling hopes for a short-term price recovery.
However, it is important to note that the market sentiment remains bearish due to the impending increase in supply over the next 30 days. With a total of 155 million PI tokens set to enter the market during this period, the chances of the price plummeting to $0.3 are more likely than ever before.
Despite these negative signs, some analysts believe that Pi Coin’s long-term prospects remain strong, with one expert predicting that it could reach as high as $3 by June. Crypto commentator Moon Jeff has expressed his confidence in Pi Coin’s ability to break through resistance levels and regain its former glory once the market stabilizes.
The current meltdown notwithstanding, Moon Jeff believes that once the global trade tensions settle down, Pi Coin will begin its journey toward a new all-time high.
Source: https://www.coinspeaker.com/pi-network-reverses-weekend-gains/
