So, August 1st happened, and suddenly over 19 million Pi tokens decided to crash the party—like that one guest who shows up uninvited and leaves everyone broke. This was part of a bigger bottle of tokens—72 million total—trying to make a grand entrance, but mostly just causing chaos. The circulating supply hit 7.76 billion, which sounds impressive until you remember history’s played the “big unlock” game before, like in May with 8 million tokens, and watched prices tank more than your confidence on a Monday morning.
The market’s reaction? Gone full panic mode. Pi dropped over 13% in just one day—no big deal, just your average crypto roller coaster. Trading volume boomed by 82%, hitting a wild $157.7 million. Basically, everyone’s selling, and the crypto toilet is flushing hard. 😅
On the technical front, things are looking about as promising as my diet plan—bleak. RSI (14) plummeted to 26.59, the lowest since June, but surprise! No bullish divergence to save us. The price broke below support at $0.389, sliding toward the $0.35 zone like a kid on ice skates. The MACD histogram turned deep purple, signaling bearish momentum so strong it could probably bench press your wallet. Experts warn that if this chaos continues, Pi might nosedive as low as $0.30–$0.32. Yikes.
This isn’t just a Pi problem. The entire altcoin market is waving its white flag. The Altcoin Season Index? A sad 36 out of 100, because apparently everyone’s more interested in Bitcoin’s dominance than in supporting the little guys. Pi’s correlation with Bitcoin? -0.27—meaning it’s more like that friend who always ghosts you—out of sync with the market trends. Plus, no Tier-1 exchange listings (looking at you, Binance and Coinbase), so liquidity is basically tighter than grandma’s cookie jar. 🍪
The result? Oversupply + weak market mood + liquidity woes = one big negative feedback loop. Falling prices make miners and traders think “best to quit,” which fuels even more selling. It’s like a cry for help in crypto form. 🔥
Right now, all eyes are on the support level between $0.32 and $0.35. If that holds, Pi might chill out and rest up… for now. But if it caves, we’re looking at a potential free fall, with panic selling fueling the fire. Good news? Token unlocks will slow down to just 5.3 million in September, maybe giving Pi a chance to dig itself out of this hole—if anyone’s still listening.
The information here is just for kicks and giggles, folks. Don’t take it as financial advice—unless you want your wallet to double as a horror story. Always do your homework, consult a pro if you can find one, and avoid blaming me when your crypto dreams turn into meme material.
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2025-08-02 14:22