📉 Pi Network Struggles Under $0.50 as Community Hype Intens
koinmilyoner
Updated at: 6 hours ago
{"content":"📉 Pi Network Struggles Under $0.50 as Community Hype Intensifies
Friday saw Pi Network fall as it fights to regain $0.50.
Social power rises with Pi network talk.
Investors are purchasing when CEX balances fall and PI Foundation sells 5.81 million PI tokens.
After a Doji candle on Thursday, Pi Network (PI) falls roughly 2% at press time. Social conversation and investor interest rise as Pi Network bids sideways under $0.50. A net Pi Foundation wallet outflow implies trust is decreasing.
Pi Foundation outflow exceeds investor interest
In the last 24 hours, OKX exchange has lost 2.15 million PI tokens, according to PiScan. The OKX net outflow exceeds all other exchanges' net inflows, leading in a 36,580 PI token net outflow from CEX.
A reduction in CEX wallet balances usually reflects investor desire when the market rebounds.
Pi Foundation 2 wallet net flow is -5.81 million Pi Tokens, surpassing CEX wallet net outflow. Avoid becoming exit liquidity to Pi Foundation team outflows by being careful.
The social dominance score evaluates asset mentions in social interactions. Pi Network's social dominance rose to 0.39% on Friday from 0.18% on Monday, according to Santiment. The overall weighted mood is -0.327, indicating a pessimistic bias amid rising social discussion this week.
At publication time on Friday, Pi Network fell 2% between the $0.5000 psychological level and the June 22 low of $0.4711. Daily closing below the latter might continue its down below $0.4000, last touched June 13.
Bearish momentum continues as the Relative Strength Index (RSI) at 36 approaches the oversold barrier.
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