Pi Network Mainnet Launch Today
After seven years of development, Click to earn PI network It will finally be released at 8 am this morning. But with Pi Coin already down 55%, now trading around $30, fear is growing. This sudden drop has caused speculation that mainnet launches could lead to further declines.
Profit opportunities for early miners
One of the biggest risks PI coins From early miners. These miners accumulate PI tokens at little cost and are likely to see Mainnet launch as their first real opportunity to monetize their holdings.
For these people, part of selling their tokens may be a strategic move to lock in profits, especially if they think the initial market price will be higher due to hype and speculative nature.
If a large number of early miners decide to sell at the same time, the market may increase supply rapidly, potentially reducing demand, which may lead to price drops.
Market trends and technical indicators
follow Official announcement of the main websitethe price of PI tokens has risen nearly 90%, climbing from $49 to $92. However, this rise has not lasted for a long time, as prices have dropped sharply since then.
Meanwhile, technical signs also indicate that PI’s price is struggling. The token recently fell below key support levels at $40, which helped keep prices stable earlier. In addition, the relative strength index (RSI) that measures whether tokens are overbought or oversold has recently entered the overbuy zone of PI.
However, it has dropped rapidly in the past 24 hours. In the past, tokens hitting the area have often seen their price reversal and declines. This may mean that the price of PI has dropped.
Airflow effect: A common trend?
History shows that cryptocurrencies emitted through gas and water often experience a significant decline. When tokens are distributed for free or at low cost, many recipients are anxious to sell their shares after the transaction begins.
The PI network may follow a similar pattern, with oversupply of tokens, markets and pushing prices down.
PI Price hints at major losses
As of now, I owe you (iou), the price has dropped sharply, Now trading for $32 After a 57% drop in just 24 hours. This crash happened after the token failed to maintain support levels above $50.
With the upcoming mainnet launch, uncertainty is growing and PI prices may face greater pressure to decline. While it is still above $30, breaking through this level could result in a further drop to $17.
If this happens, investors who have been holding PI in recent weeks will face greater losses.
