Pi Network (Pi Coin) is the focus of discussions in the crypto world in recent days. The community, which grows day by day, clearly shows that her patience is exhausted. With the price below $ 0.70, the reactions rose even more. So what’s next for Pi Coin? As Kriptokoin.com, we transfer the details.
Pi Coin community is no longer quiet: transparency crisis is growing
The Pi Core team recently announced the participation of 1.8 million users on a global scale by recently announced the pifest event. However, the community argues that this data does not reflect the truth. It is emphasized that most of the transactions during the event consist of cash exchange only in exchange for Pi.
Especially Dr. Leading community members such as Altcoin find that the Pi Core team’s communication with users is insufficient and insensitive. The fact that the updates are predictable, superficial and repetitive is also the focus of criticism. Some investors argue that a new leadership structure that will replace the team should be created.
Mining rate fell, hopes decreased
Pi Network once again reduced the mining rate this month. The basic excavation rate fell to 0.0029030 Pi per hour with a decrease of 1.18 percent. This decrease was a new disappointment among users who were already impatient. Many people think that mining is no longer a significant return.
In addition, the expectation of listed in large stock exchanges is still not met. Giant names like Binance and Coinbase are still quiet. The transactions initiated on smaller platforms such as BTCC were not positively reflected in the price. This has further reduced the motivation of investors.
Pi Coin Price Under Edition: What does the technical look say?
The Pi Coin price has lost close to 20 percent in the last seven days. It is currently trading around $ 0.687. According to technical analysis, the price has entered the Falling Wedge formation. This model can be a harbinger of a possible upward break.
If the price can break the range of $ 0.71–0.72 with a high volume, it may be possible to recover towards $ 0.75–0.78. However, a serious confidence needs to be renewed for the realization of this scenario. Currently, the transaction volume has decreased by 52 percent. This shows that the sales pressure on the market is still very strong.
