The price of Pi Network explodes 10%: a dead cat bouncing or the worst is over for PI?

Tl; Dr.

• After he has dug a new layer after a new low point for a few consecutive days, the native token of PI Network has finally been handed over with an impressive price rally with double digits.
• The question now arises as to whether the correction finally ended or that is just a typical dead cat ruined.

It is safe to say that the Pi -Token does not enjoy in recent months. Apart from a few short and unusual price pumps, the general trend of the active extremely bearish, which culminated at the beginning of August.

At the end of last week, PI fell to a new low of less than $ 0.35 to map another negative record on 6 August at $ 0.335 (Coingecko details). This meant that it had lost about 90% of its value, because his all time was all time at the end of February.

However, the past day has been very beneficial for the entire cryptocurrency market. Under the leadership of ETH’s impressive performance and rise after $ 4,000, many Altcoins have marked 5-8% profits, while a pair, such as the Pi Network coin, have been exploded by double digits.

From the moment of the press, PI is at $ 0.4, which is marked 20% above the ATL just three days ago. While the community is looking forward to these remarkable daily performance, others wonder if this is a typical dead cat shit moment, something that the PI has certainly done in the past.

Looking ahead, the daily token dismissals are not as scary as in July. Data from Piscan shows that in the following month there is only one day where the number of unlocked coins will be nearly 10 million, while the average is 5.6 million is-much less than the average of 7-8 million in June and July. This should alleviate part of the sales pressure on the active, at least in theory.

If you want to check some of the latest developments and updates around the wider PI network ecosystem, you can check this item and check it.