Pi Coin is experiencing increased selling pressure due to the impending release of 318 million Pi tokens over the next month. Trading volumes on MEXC show that Pi Coin, when paired with the USD1 stablecoin, has reached half the volume of the Pi/USDT pair. Despite a circulating supply of 7.6 billion tokens, the top 100 holders control 96.37% of the total 100 billion supply. The recent unveiling of Pi App Studio, an AI-powered no-code platform, failed to generate significant interest, causing Pi Coin’s price to drop by 5% to $0.485. Market experts predict a further decline to $0.40 by August, exacerbated by the large token unlock. Historically, Pi Coin has seen price drops following the Pi2Day event, marking it as a “sell-the-news” occasion. Additionally, Pi Coin trading with the USD1 stablecoin is gaining momentum, with USD1 being significantly influenced by the Trump family. The Pi Network’s token distribution reveals a concentration of wealth among a small group of holders, with 15,316 individuals controlling 96 billion Pi tokens, highlighting the dominance of major players in the ecosystem.
Will Pi Coin’s Price Drop to $0.4 After Pi2Day’s AI Reveal?
