The price of the PI network is disrupted to its lowest level ever after the last announcement-details star-news.press/wp

The price of the original PI, PI, has fell to its lowest level ever, which led to less than $ 0.4 before continuing to restore it to $ 0.35 at the time of writing this report. The accident comes a few days after a controversial announcement by the PI team, which may have increased the homosexuality throughout society.

PI penetrates its lowest historical levels while deepening the declining direction

PI/USDT has now decreased under every major support level since its launch. As shown in the weekly graph, the PI is traded below the continuous atrocity line and remains less than all the main Fibonacci resistance points. At the time of writing this report, the distinctive symbol sits a little higher than $ 0.40, and the price movement is escalating with the pressure pressure to penetrate, especially if The broader dominance of Altcoin weakens more scope.

This week’s candle is a continuation of the fixed decline that started in March, despite the intermittent bullish nails. This allowed PI to continue Decline with each step It has now been traded at the lowest level of price since its launch.

Interestingly, this incident came amid a recent announcement from the PI team. PI network team Announcement Urging the pioneers to hold PI symbols voluntarily to increase their mining rates. According to the publication of the August 1 blog, users can choose to hold up to 200 % of their toilet balance and receive improved rewards to do so. The post also explained the various ways to start insurance via the PI and Pi Browser app.

Destious outlook unless strong support is

However, this step did not do much to calm the storm, and the price of me continued to decrease. The timing of the advertisement may be flawed, especially given the inappropriate concerns about delaying migration and symbolic liquidity. There is an inability to trade or use a lot of circulating offer, and now, lock the symbols without any guaranteed future liquidity that looks like a sacrifice more than the strategic decision.

At the same time, Liquidity is a major issue. There are limited trading options, as PI is only available in a few central stock exchanges, but it is not included on major platforms like Binance or Coinbase. Also, there are some mechanisms for the benefit of the real world.

Now that PI was traded at about $ 0.35, the declining direction officially entered into an unknown area. Unless a strong support area is rapidly achieved, the PI provides a major catalyst for the ecosystem, or flowing in market revenues, the current collapse may extend deeper.

It seems that the Lockup initiative, which was aimed at encouraging the commitment and growth of networks, appears to have led to reverse results between the user base that is already struggling with doubts about the pace of the project. As such, the PI network faces increasing pressure to make meaningful progress before society’s confidence is eroded further.

At the time of this report, PI is traded at $ 0.352, a decrease of 1.4 % and 19.6 % in 24 hours and seven days in a row.

Distinctive image from Adobe Stock, Chart from TradingView.com

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