Pi Coin Price Drops 5% to $0.485 Amid Selling Pressure
Pi Coin (https://holder.io/coins/pi/) has dropped 5% today, now priced at $0.485. Following the Pi2Day event on June 28, where the Pi App Studio was announced, interest has waned, leading to predictions of a further decline to $0.40 by August. This is compounded by an upcoming unlock of 318 million Pi tokens in the next month.
Key points include:
- Price movement since the event has been sideways.
- Historical trend: past three years show price drops post-Pi2Day.
- Growing trading volume for Pi/USD1, reaching about 50% of Pi/USDT pair.
- Concentration of wealth: top 100 holders own 96.37% of total supply.
- Current circulating supply stands at 7.6 billion out of 100 billion total tokens.
The token distribution highlights dominance by a small number of holders, with 15,316 controlling 96 billion Pi tokens valued at approximately $48.60 billion.
Pi Coin Holder Distribution | Source: BsScan