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Pi Network (PI) Price Prediction: User Wallets Receive Major Update, Pi Coin Faces Token Unlock Possibly "Fall Then Pump"
Pi Network (PI) remains sluggish this week, currently reporting at $0.4414 during the European session today (25th). The core team of Pi Network has introduced two new features for the project's Pi Wallet, which will provide a more seamless process for purchasing and mining the underlying assets. Analysis suggests that with the unlocking pressure of the token coming, Pi coin may exhibit a trend of falling first and then rising.
Major Update for PI User Wallet
The Pi Network Wallet operates similarly to other industry digital wallets, but differs in that it focuses solely on the Pi Network ecosystem. It is integrated within the Pi browser application, allowing users to hold, manage, send, and receive base assets. The team states that it is "a secure and convenient access point to decentralized applications on the Pi Network and the broader Pi ecosystem."
One of the recent updates expanded the aforementioned features, as it allows pioneers (Pi coin community users) to purchase Pi coins directly through the wallet. The project team added a new button next to the "lock" and "stake" buttons.
Before the weekend, Pi Network introduced its second upgrade. The Pi Core Team (PCT) added new exchanges and a free mining Pi button on the "Buy" screen, as well as an entry provided through Onramper. The post claims that pioneer users will soon be able to access the exchange "directly from the wallet."
Pi coin price analysis
Earlier this week, the native Token of Pi Network surged significantly against the backdrop of an overall market correction. However, its performance was not particularly outstanding, and it has since seen a slight decline. As of the time of publication, the price of Pi coin is struggling below $0.44, with a weekly fall of 4% and a monthly fall of over 27%.
Given the unlocking schedule, the short-term trend of the token may be more challenging, as over 10 million tokens will be released on July 28 and 29, which may increase selling pressure. However, the situation may reverse thereafter, as the number of tokens to be unlocked in the next month or so will significantly decrease.
(Source: PiScan)