A major change can be seen in the world of Pi Community, as more than 231 million Pi Cash is going to be unlocked in May. On an average, more than 10 million pi tokens will come in the market every day, which can increase the pressure at the price. On May 6, about 10.5 million pi tokens unlocked, which cost around $ 5.87 million (about ₹ 49 crore).
Why is this unlocking important?
Pi Coin is currently trading around $ 0.58, which is 80% below its all-time high. Now that in May and June, about 453 million new tookans (values of about $ 270 million) will come in the market, this will increase the supply significantly. If the demand does not increase so fast, the price may fall.
More unlocking in the coming months
By the end of this year, the total 1.4 billion Pi tokens will be unlocked, whose value can be more than $ 850 million. Most of these Tokans will be found by the early users who participated in the project from the first day. Now if these users start selling their holdings, then selling pressure in the market will increase.
Is this “accumulation” phase?
Some analysts believe that Pi Coin is currently in the “Accumulation” of Wyckoff Marketplace cycle ie, big investors are currently buying PI quietly and can be a big breakout in future. However, the trading volume remains low so far and the price is moving in a limited range.
Talking about the price of Pi Coin, became the subject of discussion in Crypto World Pi Coin Wort falls heavy fall Viewed, which fell 2% to ₹ 0.60, while the market cap declined to $ 4.15 billion. This decline came at a time when the Pi Community has received a large regulatory approval, making its global expansion possible.
There are also some positive signs
120 million+ app download: The mobile app of Pi Community has been downloaded more than 120 million times so far, which shows user interest.
Rumors of exchange listing: HTX (earlier Huobi) has indicated listing and PI’s test pages have also been seen on Binance. If there is a listing on a large exchange like binance, it can lead to a big bounce in the liquidity and demand of the PI.
Global level sales: Kyb approval received by Crypto Payment Company Banxa, which will now be able to sell Pi Coin through cash in 100+ countries. With this step Pi Coin will now be sold at global level And users will get more options to buy Pi coin, making it possible to increase its use and demand.
Can Pi Coin go up to $ 1?
If Pi Coin crosses the resistance of $ 0.7932, it can go up to $ 1. But due to the current situation and the huge amount of token unlocking, it does not look easy. Some pioneers want to see it going to $ 314,159, but at the moment this dream seems quite far away.
Do you invest in Pi Coin?
If you invest in Pi Coin, then the coming few weeks can be very important for you. At this time you should keep an eye on some things.
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Exchange Listing News: If the listing is confirmed on a large exchange like binance or HTX, it will be a very positive sign.
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Price Movement and Volume: If the trading volume also increases with the price, it may be a sign of a possible breakout.
Conclusion
The coming time of Pi Community can be very decisive. If demand and user growth persist and exchange listing is available, this token may hold speed again. But if the unlocked Tokans have heavy selling, the possibility of a fall in the price cannot be ignored.
