Pi Coin’s price has taken a noticeable hit, plummeting below $0.70 due to selling pressure and community discontent. Recent token unlockings have dampened investor enthusiasm, contributing to lower trading volumes across the ecosystem. 📈
Despite the PiFest event, which saw a substantial vendor participation, the community is expressing growing dissatisfaction with the current state of affairs. Trading activity has dwindled significantly, with claims that only cash conversion transactions are being made. 💸
The mining rate has also experienced a decline, dropping to 0.0029030 π per hour, potentially linked to the low exchange values. ⛏️ While BTCC recently listed Pi Coin for spot trading, its impact on price hasn’t been significant yet.
Technical indicators suggest that the price has tested support levels around $0.60 and a potential breakout above the range of $0.71-$0.72 could lead to further gains toward $0.75-$0.78. 📈
Market experts, although optimistic in some aspects, express concern about slow recovery if current trends persist. They’re urging for improved transparency and leadership who understand crypto dynamics. 🤔
Stakeholders are closely monitoring the Pi Network ecosystem as uncertainty remains regarding potential market shifts in the near future. ⏳