Pi Network PI Token Don Jump 20% Because Daily Unlocks Don Go Down
Di Pi Network own PI token don just bounce back 20%, from di lowest point wey e reach for 3 days of $0.335 come up to around $0.40. Dis surge come after some weeks wey things no too fine for de market, where PI fall reach all-time low and lose around 90% of im value since February peak. The betta market move wey Ethereum break pass $4,000 come ginger di rally for altcoins, including PI. Data from PiScan show say daily PI token unlock don reduce to average of 5.6 million PI, dey down from 7–8 million wey dey June and July, and only one day for next month wey fit reach near 10 million unlocks. Dis small sell pressure fit help di price go up again but traders still dey warn say dis move fit be dead cat bounce.
Bullish
Di 20% bounce wey PI token get for inside di light daily unlocks dey show say immediate sell pressure don reduce, wey normally good for price stability. Other tokens sef don get similar supply-driven rebound wen their token unlock slow down, e allow buy-side momentum to full ground. Short-term traders fit make money from di rally wey Ethereum broader market strength trigger, while long-term holders dey watch if di reduced unlock volume fit keep demand dey strong. But dead cat bounce fit still happen if di market spirit dey weak. Overall, lower new PI supply flow plus the altcoin market rally dey make di outlook bullish, as long as no new bearish catalyst show face.