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Simon Chandler
Author
Simon Chandler
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Pi Network has dived by 15% in the past 24 hours, sinking to $0.5645 after Donald Trump’s tariff announcement yesterday sent the crypto market tumbling.
This continues a very bad run of form for PI, which is now down by 33% in week and 67% in a month, and not to mention by 81% since touching an ATH of $2.99 on February 26.
To make matters worse, Pi Network continues to release new PI tokens on a regular basis, with the month of April set to witness an unlock of 123 million PI.
And with major exchanges such as Binance still refusing to list the coin, these ongoing unlocks could pull its price down even further over the coming months.
Will Pi Network Survive This Unlock? Token Nears All-Time Low as Supply Flood Looms
What’s particularly alarming about Pi Network’s price right now is that it has begun setting new all-time low records, meaning that it has fallen below its initial listing price on exchanges.
This suggests that PI is suffering from a potentially terminal decline, with the lack of momentum and lack of new listings – combined with an inhospitable macro environment – serving to strangle the token.
The severe absence of momentum is evident in the token’s relative strength index (purple), which for the past week or so has repeatedly see-sawed between 40 and 20.
This signals considerable overselling, with PI’s 30-period average (orange) continuing to fall as well.
Such overselling is normally corrected sooner or later, but in PI’s case it’s an open question as to whether it will truly recover.
And to make matters worse, an absence of demand is combining with the regular unlocking of hundreds of millions in PI every month, as the chart below illustrates.
Unlocks will get worse over the summer, with July of this year witnessing the release of 233 million PI.
Given that demand for PI is so low at the moment, such unlocks are only going to depress the coin’s price even further.
And as we’ve noted before, exchanges such as Binance are still holding off listing the token, which is only damaging it.
Based on all these factors, and given the possible initiation of a trade war, PI is only going to decline further in the next few weeks.
It will plunge to $0.40 by May, and could drop as low as $0.30 by July.
New Tokens Can Bring Profits During Bear Markets
As bleak as things look for PI right now, there some new coins in the market that are aiming to buck the overall trend and post gains in the near future.
This includes several presale tokens, which in the best cases can rally once they list on exchanges for the first time.
One interesting presale coin looking forward to its launch is MIND of Pepe (MIND), an ERC-20 crypto that has now raised $7.8 million in its ongoing ICO.
What helps MIND of Pepe to stand out is that it’s about to launch an autonomous AI agent, one that will learn from and interact with the cryptocurrency market.
On the one hand, it will process social media and trading data to produce market advice and analysis, something which could help investors make more informed trades.
On the other hand, it will use its insights into current trends to generate its own meme coins, which it will design to be as potentially viral as possible.
Holding native token MIND is the way to gain access to MIND of Pepe’s advice, while it will also provide early access to self-generated tokens.
Demand for the coin could therefore be considerable, as suggested by its presale.
Investors can join this sale by going to the MIND of Pepe website and connecting a compatible wallet.
MIND is currently available at $0.0036524, but this price will rise again early tomorrow.
