Is Pi Network Facing Selling Pressure Before Pi Day 2?
Pi Coin Exchange Deposits Surge
Recent trends show a significant increase in exchange deposits of Pi Coin, the primary digital currency of the Pi Network. This surge in deposits hints at potential selling pressure within the community as it anticipates Pi Day 2 scheduled for June 28.
Decreasing Confidence Among Participants
The rising number of exchange deposits signifies a lack of confidence among Pi Network users, indicating that many are skeptical about the forthcoming announcement on June 28. It appears that these users have minimal expectations from the Pi Core team, leading them to consider divesting their Pi tokens.
Pi Token Price Movement
As a result of these developments, the Pi token price has experienced a downward trend, reflecting the uncertainty and apprehension prevailing within the network community.
Conclusion
The surge in exchange deposits of Pi Coin suggests a growing concern and apprehension among Pi Network users regarding the impending announcement on Pi Day 2. This trend highlights the need for the Pi Core team to address user expectations and restore confidence within the community to sustain the value of the Pi token.
This article was originally published on CoinGape.