3 Signs Pointing to Mounting Selling Pressure on Pi Network in November
Trading information for Pi Network (PI) indicators a bearish outlook for its value in November. Although Pi has already dropped greater than 90% from its peak, market forces could proceed to push the value decrease.
What are the warning indicators, and the way do Pi’s loyal supporters clarify them?
A Massive Amount of Pi Tokens Being Unlocked
First, Piscan information exhibits that the variety of Pi unlocked per day is up to 4.85 million PI, and the variety of Pi unlocked in the subsequent 30 days is up to 145 million Pi.
Piscan information additionally reveals that in December, greater than 173 million Pi might be unlocked — the very best month-to-month unlock quantity till September 2027.
This regular and rising unlock strain is probably going to persist by way of the top of the 12 months, creating a major impediment to any value restoration on exchanges.
Rising Exchange Balances Indicate Continuous Selling Pressure
The quantity of Pi held on exchanges continues to improve in November.
According to Pi Network’s early-month report, there have been about 423 million Pi on exchanges. By mid-November, that determine had climbed to practically 426 million Pi, marking an all-time high.
Such development in change reserves signifies that exchanges now maintain extra Pi tokens, ready for trading or sale, which may put downward strain on costs.
Weak Trading Volume Reflects Low Market Activity
Spot buying and selling quantity for Pi on centralized exchanges has proven little enchancment in November. The 24-hour buying and selling quantity at the moment hovers (*3*).
CoinMarketCap information signifies that Pi’s month-to-month buying and selling quantity fell to simply $1.2 billion final month. Both value and buying and selling quantity have declined in parallel.
Weak liquidity, together with the fixed unlocking and influx of Pi to exchanges, may intensify the downward value motion.
Pi Supporters Remain Confident Despite the Pressure
Despite the bearish indicators, Pi supporters stay optimistic.
An X account named Dao World, figuring out as a Pioneer, argued that whereas Pi has a big most provide, the precise circulating quantity is just round 3 billion. The Pi Core Team, he famous, has not been aggressively promoting.
He additionally steered that a couple of market makers (MM) on sure exchanges primarily management Pi’s present value. Once promoting strain is totally absorbed, he believes the price could rebound.
Several different Pioneers share this view, claiming that the current $0.20 range presents a buying opportunity — one they anticipate might be remembered fondly in the long run.
The submit 3 Signs Pointing to Mounting Selling Pressure on Pi Network in November appeared first on BeInCrypto.