Is Pi Network’s 100 Million Token Release the Beginning of the End?

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Ah, the drama of Pi Network (PI) – a staggering one hundred million tokens, valued at a neat $60 million, are preparing to flood the market this month. How charming. Who could resist the sweet, sweet allure of impending chaos?

Brace yourselves, dear investors, for what could very well be the grand finale of this already gloomy show. The bear market has been most generous with its icy grip, and the addition of these tokens to circulation might just send the price of PI spiraling toward the depths of its all-time low.

PI Struggles Beneath the Weight of Bearish Sentiment

According to the ever-so-reliable PiScan, a cool 9.5 million tokens worth $5.76 million at current market prices are set to enter the wild today. This is merely a drop in the ocean, as over 1.56 billion PI tokens will be unleashed over the next year. A veritable flood of digital currency, with nowhere to go but down.

Of course, the broader market isn’t exactly throwing a party for PI. If anything, it’s more like a quiet wake for a once-promising asset, with few takers eager to gobble up more of what’s being dished out. Expect a surge in selling as those lucky enough to be holding the token rush to offload it. After all, who wants to hold onto a sinking ship?

Meanwhile, the technical indicators—those beloved heralds of doom—are waving their little flags. Take the Balance of Power (BoP) for example, which is currently languishing at 0.75. For those not in the know, when this indicator dips below zero, it’s a sign that sellers are in charge, the buyers cowering in the shadows. How delightful!

This BoP behavior only confirms that the PI spot markets are still gripped by the merciless hands of the bears. The price action? Well, let’s just say it’s unlikely to turn around anytime soon. A momentary respite would be a miracle at this stage.

Oh, and let’s not forget about the Chaikin Money Flow (CMF), which has been clinging to the “negative” zone like a desperate teenager at their first breakup. Currently sitting at a lovely -0.17, this is yet another indicator pointing to the same grim reality: more selling pressure, less buying. PI, it seems, is flowing in the wrong direction.

The negative CMF? A siren call for even more pessimism, as it underscores the outflow of money from this asset. If only it could all be so simple as a gentle downturn—but no, this is a full-on market retreat. The downward trend is likely to continue unless some miracle (or mass delusion) changes the game.

Will PI Plunge to Its All-Time Low?

Ah, the 20-day Exponential Moving Average (EMA). A charming indicator that confirms the suspicion: PI is currently trading below it, like a ship that’s drifted off course and doesn’t seem to care. The resistance is at $0.70, and PI’s price is stubbornly below it—an ever-present reminder that things are just not going in the right direction.

The EMA is a fancy way of telling us that PI’s short-term momentum is as bleak as the weather in Siberia. When trading below this line, it’s pretty much a signal that the bears have found a cozy home and are unlikely to leave anytime soon.

If the trend continues, PI could be in for a reunion with its all-time low of $0.40. Oh, what a touching moment that would be! A full-circle return to the price that launched a thousand (unfortunate) dreams.

But don’t worry, there’s always a glimmer of hope in the world of crypto. A surge in demand (which we know is probably just around the corner… right?) could help PI defy all logic, push past the $0.70 resistance, and maybe, just maybe, climb to $0.95. Of course, we’re all waiting with bated breath for that miracle.

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2025-04-18 14:25