Pi Coin Dash Go Record Low Amid Lockup, KYC Delay
Pi Coin don drop almost 90% from im February peak, land for record low of $0.322. The fall come fast after Pi Network talk on August 2 say make token lockup mandatory with up to 200% mining boosts. Even though the lockup cover tokens before and after migration, big wahala with KYC and delay for Mainnet migration don stop plenty users from comot or move their Pi Coin holdings. Unreleased tools like Pi Domains and Pi App Studio plus wahala with repeated technical bugs don make people trust am less. Later this month, 160 million tokens (about 2.1% total supply) go unlock and mining rate go reduce, wey fit make price go down more. Technical signs for TradingView—RSI 23.87, MACD under signal line, and negative SMI—show say bearish momentum still dey strong. Traders make dem watch how Pi Network go deal with users wahala and technical palava, because volatility still dey high.
Bearish
Di tori say Pi Coin record low price, mandatory lockup, KYC delay dem plus upcoming token unlock dem dey show say Pi Coin ecosystem get structural wahala. For short term, as locked token plus dem wey go soon unlock dey put pressure to sell join technical sign wey show say market weak, e fit push price down and make new people no wan join. For long term, as KYC backlog no dey clear, no dApp rollout and still get technical bugs, e fit make user dem lose confidence and limit how the network go spread, maintain bearish trend. Unless Pi Network fit provide real ecosystem tools, speed up KYC verification and stabilize token supply, Pi Coin fit find am hard to reverse the direction.