Pi Coin shows signs of life, increasing by 2% today and is now trying to exceed the significant level of $ 0.50. This occurs after a long downward trend that started in May, when the token culminated at $ 1.65.
But what really attracted attention is a big transaction. Someone would have bought 2.8 million parts of PI and removed them from the OKX Exchange. In total, in the past three days, around 12 million PI coins have been purchased and removed from OKX.
Currently, centralized exchanges contain approximately 356 million PI pieces, OKX holding 19.7 million.
What is the next step for Pi Coin Price?
July could be a bumpy month for Pi Coin. A large unlocking of tokens is planned, releasing around 318 million IP (worth almost 160 million dollars) on the market. This sudden increase in the offer could add sales pressure and push the prices lower if the demand does not resume.
Currently, the bulls defend the level of support of $ 0.47 because the Bears continue to reject the upward movements. Pi Coin briefly crossed the 20 -day mobile average (about $ 0.56) last week, but failed to pierce the highest resistance from 50 days to $ 0.66.
If PI holds $ 0.47 and manages to go up above $ 0.50, it could target $ 0.57 and later $ 0.60. But if it falls below $ 0.47, the next drop -down target would be $ 0.40.
In the midst of all this, Dr. Altcoin stressed that the so-called GCV group seems to forget one thing, the PI Core team (PCT) has already sold millions of PI parts for less than $ 2 each to collect funds for 100 million dollars PI network companies. He said that even the PCT did not believe these unrealistic VPC prices.
