In a manner most lamentable, Pi Coin has once again found itself in a most disagreeable state, retreating to the modest sum of $0.3635 after a decline of 5.44% over the span of a single day, and a disheartening 10.68% diminution across the week. Its market capital now languishes at $2.85 billion-down 5.43%, no less-while the 24-hour exchange volume astonishingly surged to $59.6 million, a staggering 121% increase that perfectly illustrates the enthusiasm of market participants in selling rather than buying. Remarkably, Pi has managed to dip below its former all-time nadir of $0.335, a mere dozen days past, which might suggest that despair is not merely an option but a current fashion among investors. Although fleeting attempts to rally on the hourly charts offered a glimmer of hope, our beloved token swiftly lost its breath, failing to sustain any bullish momentum and retreating below the resistance levels it once nobly defended.
Why is Pi Coin Price Falling?
The primary culprit, if one may say so without too much fanfare, appears to be the impending unlocking of over 167 million PI tokens in the forthcoming thirty days, including a handsome 9.8 million released just on August 16. Historically, such unlocks tend to swell the circulating supply, causing a cascade of sell-offs, particularly when liquidity remains as thin as the patience of a frustrated investor. At current valuations, the August unlock volume of approximately $6.1 million threatens to overwhelm even the most optimistic of markets. Meanwhile, the centralized exchanges hold a formidable 411 million PI-about 5% of the total supply-sitting comfortably on Bitget alone with 141 million, thereby fueling fears of concentrated sell pressure, like a ritualistic dance of despair. To add spice to this bittersweet brew, the community’s grumbles grow louder over delayed KYC procedures and the elusive referral bonuses, further dampening spirits and encouraging a collective sigh of frustration. 😅
Pi Coin Price Analysis
Throughout the day, Pi finds itself oscillating between $0.3576 and $0.3895, trapped beneath its 7-day SMA at $0.389 and the 30-day SMA at $0.406, like a miser guarding his coin purse. The RSI, resting at a languid 43.55, hints at a neutral-to-bearish mood, while the MACD histogram recently turned negative at -0.0047 as of August 17, indicating that bullish enthusiasm has all but evaporated-unless of course, you believe in the power of a good comeback. The technical failings are glaring: Pi failed to hold the Fibonacci retracement near $0.475, revealing faint buying conviction-unless, of course, the bulls rally with the intensity of a wedding dance. Without reclaiming the formidable $0.38 barrier, the poor coin risks revisiting the not-so-glamorous low of $0.335, like a character doomed to repeat their tragic flaw. Unless a miracle occurs, or traders suddenly grow overly optimistic, rallies are more likely to be fleeting whispers than sustainable trends. 🙃
On a slightly more cheerful note, Bitget has recently launched a Pi Pioneers referral campaign, promising rewards of up to $150 in PI-perhaps an attempt to bribe believers into patience or simply to distract from the ongoing catastrophe. Savvy investors might consider accumulating small trinkets during dips, just in case the project manages to continue its migration plans, or at least to be prepared for the next episode of market drama.
FAQs
Why is Pi Coin price falling? The combination of imminent token unlocks and a weak technical outlook encourages sellers to come forth in discouraging numbers.
What key level should Pi Coin reclaim? To avoid sliding further into despair, Pi must recover above $0.38, or face the risk of reiterating its downward voyage towards $0.335, a support level that has become all too familiar.
What is Pi network price today? As of now, the price per Pi hovers at $0.3635, with an intraday loss of 5.44%, making investors wonder if this is a rollercoaster or just a very passive slide into obscurity. 🎢
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2025-08-18 14:37