The price of Pi Coin (PI) remains in a fragile state as the token braces for a massive supply shock: 337 million PI tokens – worth approximately $185 million – are set to be unlocked over the next 30 days, according to data from PiScan.
The price of Pi Coin (PI) remains in a fragile state as the token braces for a massive supply shock: 337 million PI tokens – worth approximately $185 million – are set to be unlocked over the next 30 days, according to data from PiScan.
With the project still absent from major exchanges like Binance and Coinbase, and Smart Money Index (SMI) support rapidly dwindling, market confidence in PI is on the edge of collapse.
Token unlocks often trigger waves of sell pressure, especially in the absence of compelling demand-side narratives. In PI’s case, the newly circulating 337 million tokens represent a sharp dilution event, threatening to suppress prices further.
The SMI, a key indicator of institutional and experienced investor activity, dropped by 10% in the past 30 days, now sitting at a concerning 1.28. This trend suggests that large holders are exiting positions or remaining on the sidelines – both scenarios spell trouble for short-term price action.
Pi Coin Technical Analysis: A Breakdown or a Bounce?
The daily chart below reveals a descending triangle formation, with price consolidating just above a long-established support zone (green box) around the $0.50 mark.
This pattern is typically bearish, indicating a potential continuation to the downside unless a breakout invalidates the setup.
The RSI is currently at 31.18, hovering near oversold territory. While this suggests PI is approaching a potential bounce area, it’s more often a signal of continued weakness in heavily bearish markets.
Also, the MACD remains in negative territory, with no bullish crossover in sight. Momentum continues to favor bears, reinforcing the lack of upward pressure.
Source: TradingView
Immediate support lies within the $0.50–$0.47 region. A clean break below this green box could trigger a steep correction toward $0.30 or lower.
On the flip side, breaking above the descending triangle’s upper resistance line ($0.80) could initiate a short squeeze toward $1.20–$1.50, with an extreme bullish case aiming for $3.
PI Tanks, But Solaxy ($SOLX) Skyrockets with $54M Raised and 78% Rewards Still on the Table
As investors turn bearish on PI, Solaxy ($SOLX), a next-generation Layer 2 blockchain, has raised a massive $54 million in its ongoing presale with less than 5 days until the token launches.
Despite Solana’s reputation for high throughput, heavy traffic can trigger performance bottlenecks, resulting in failed or delayed transactions. Solaxy is built specifically to address these pressing limitations.
Solaxy works in harmony with Solana, rather than merely stacking on top of it. The project employs a rollup-based architecture, which enables off-chain transaction processing while still settling transactions on Solana’s Layer 1.
Source: Solaxy
Also, the holders of the $SOLX token are eligible to stake their tokens with 78% staking rewards.
To purchase your SOLX tokens, simply visit the official Solaxy website and connect a supported wallet like Best Wallet.
You can swap crypto or use a card to complete the transaction.
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