The post Pi Network News: Social Media Dominance Returns, but 340M Tokens Could Pressure Price appeared first on Coinpedia Fintech News
The Pi Network is getting attention again. Social media buzz is rising fast, with Pi’s social dominance hitting 0.276%—its highest since May 21. That’s a big jump from this month’s low of just 0.09%. This growing interest comes just before “Pi Day 2” on June 28, which will wrap up events like the .pi domain auction and the Open Network PiFest. These events could help push the price higher.
Right now, Pi is trading around $0.64, down about 2.35% for the month. It’s sitting at a key support level. On the charts, there’s a triple-bottom pattern forming—a sign that a big price bounce might happen soon. If Pi can rise above $0.80, it could see a strong rally.
But not everything looks perfect
Some indicators are still negative, and trading volume is dropping. If the price doesn’t break $0.80, the downtrend could continue. Analysts are also warning about bearish divergence, which means the price is rising but strength is falling—a possible sign of weakness.
One big update: Over 340 million Pi tokens will be unlocked in the next 30 days. This could lead to more people trading and using Pi, but it might also put pressure on the price.
Another big move happened recently—200 million PI tokens were pulled from liquidity reserves and sent to a new wallet. Some experts think this was a private “OTC” (over-the-counter) deal, where large amounts are traded outside of exchanges. This sparked talk about possible big investors getting involved.
Lastly, there’s the ongoing debate about PI’s dual value system. On public markets, Pi trades under $1. But inside the network, the Global Consensus Value (GCV) is set at $314,159 per coin—yes, really. This huge difference has sparked confusion and debate. But on-chain data shows real users are making transactions at that high GCV level, which means the model might have a real-world use after all.