Pi Network Open Mainnet Launch: Is a Price Shock Coming?
Today, Pi Network is getting ready for the much anticipated Open Mainnet debut. Because major exchanges have announced plans to list Pi Coin, this momentous event has garnered the attention of the cryptocurrency community. With the debut, Pi will become a completely decentralized network, replacing its restricted ecosystem. The development of decentralized applications (dApps), exchange listings, and external wallet transfers generates a lot of interest in the price expectations of Pi Coin.
Nevertheless, there are significant dangers that might affect its price after introduction. There are important hazards that investors should be mindful of, ranging from technical difficulties to the possibility of mass selling. At this point, three key elements that can impact Pi’s price following the main network launch are emphasized.
Pi Network’s IOU Token Plummets! Will Mainnet Launch Trigger More Losses?
The coin is currently falling below important support levels on Pi price charts, indicating vulnerability. Pi Network‘s IOU token has already experienced a precipitous 98% drop in the last day, raising concerns about potential future price movements. If the trend persists after the mainnet launch, this technical weakness may indicate a further decline in Pi’s price.
Pi Network’s Biggest Threat: Will Early Miners Dump Their Tokens?
Many of the early miners on Pi Network have been amassing tokens for years. When the mainnet starts, the active miners using it will most likely cash out their shares. If rising supply outpaces market demand during this time, there will probably be a significant market decline. The current price decrease would be worsened, and the downward trend would continue if a large number of coins entered the market.
Pi Coin Faces Classic Airdrop Problem: Will It Hold or Collapse?
Cryptocurrencies that are first released through airdrops or other similar distribution channels usually see a significant loss in value. Pi Network may experience market flooding from airdropped tokens when it begins trading and grows its user base, which leads to instantaneous token dumping. Pi Network might have the same result when supply outpaces market demand, as the history of airdrop projects indicates that this trend has grown commonplace.
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