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