Pi Network’s Price Explodes 10%: A Dead Cat Bounce or the Worst Is Over for PI?
Main Idea
The PI token price has been extremely bearish, hitting an all-time low, but has recently shown a slight recovery.
Key Points
1. PI token dropped to a new all-time low of under $0.35 at the end of last week and further to $0.335 on August 6.
2. As of press time, PI stands at $0.4, which is 20% above the all-time low marked just three days ago.
3. The number of unlocked PI coins is nearing 10 million, with an average of 5.6 million, lower than the 7-8 million average in June and July.
Description
TL;DR After digging a new low after a new low for a few consecutive days, Pi Network’s native token has finally bounced off with an impressive double-digit price rally. The question now arises whether the correction has finally ended or that’s just a typical dead cat bounce. PI Token Price. Source: CoinGecko It’s safe to say that the PI token didn’t enjoy the past few months. Aside from a few brief and unsuccessful price pumps, the asset’s overall trend has been extremely bearish, which culminat...
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