Pi Crypto Value Price Update

The Pi crypto value price has crashed for two consecutive months and is hovering near its all-time low of $0.3983.

Summary

• Pi Network price has plunged over the last two months.
• Millions of tokens will be unlocked in August.
• Technical analysis suggests potential price increase this month.

On Wednesday, July 30, Pi Network (PI) was trading at $0.4185, down over 86% from its all-time high.

Pi Network to Unlock 160 Million Tokens

The Pi crypto value has been in a free fall in recent months as momentum from the mainnet launch faded. It also dropped as millions of tokens were unlocked daily.

According to PiScan data, token unlocks will continue in August, with approximately 160 million tokens (valued over $67 million) coming online. Additionally, 1.27 million tokens worth $2.5 billion will be unlocked over the next twelve months.

Generally, token unlocks are considered bearish because they increase supply, which can pressure prices.

The Pi Network price reacted mildly to major announcements in July, including the debut of the Pi AI Studio, allowing users to build AI agents without coding. Thousands of AI tools have been developed on the platform.

Moreover, staking was launched, enabling users to allocate tokens to preferred applications, leading to millions of Pi tokens being staked.

Looking ahead, a potential catalyst for the Pi crypto value in August could be a tier-1 exchange listing, significant since it has not been listed on any mainstream exchange five months post-mainnet launch.

Pi Crypto Value Price Technical Analysis

Technicals suggest that the Pi Network price may surge in August. A giant double-bottom pattern has formed at $0.3983, with a neckline at $1.6640, its highest point in May.

The MACD indicator shows a bullish divergence pattern and is set to cross above zero. A bullish divergence is one of the most common bullish patterns in technical analysis.

Additionally, the Pi Network has formed a falling wedge pattern, a popular reversal sign. Thus, the token is likely to see a strong bullish breakout, with the next important level at $1. Moving above this point could lead to gains towards the resistance at $1.6640.