Here is the reason for the price of the PI network by more than 35 %

The price of the PI network continued to decline this week as investors are concerned about increasing the supply.

PI currency (BayIt decreased to a decrease of $ 0.60, the lowest level per week and 21 % less than the highest point this month.

The most likely reason for sale is that more codes are launched on the market every day. according to PeskanMore than 105 million icons will be opened this month.

1.57 billion icon will be lock in the next 12 months. This is average in more than 4 million icons every day. The value of these symbols is currently estimated at more than $ 954 million.

Like other assets, the price of the encoded currency is determined by supply and demand. An increase in supply when the demand is weak will always lead to low prices.

A similar position occurs in the stock market, as the shares decrease whenever the company sells the shares to the capital.

Fortunately, some solutions can help compensate for this mitigation. One of them is a wide burning process by developers. For example, Data on the series He explains that the PI has more than 70 billion icons of more than $ 40 billion. Some of these coins can be burned and enhanced the value of the distinctive symbol.

The PI can also suggest burning some fees resulting from its DAPS ecological system. This is a common practice in the encryption industry. For example, its bachelor’s chain BNB Currency Currency At a value of more than $ 152 million using this mechanism.

PI network price analysis

The 4H graph shows that the price of the PI coin has been pressed in the past few days. After rise to the resistance level, it fell at $ 0.7860 last week.

The PI has now decreased to $ 0.6085, which is also an important support level that coincides with the rising trend line that connects the lowest point since April 7. It is also the first support for the Woodie Pivot point.

I moved a little less than the moving average 50 periods. Therefore, the distinctive symbol is likely to have a declining outbreak, as the first goal is $ 0.40, which is the lowest point this month. This goal is about 35 % lower than the current level.

The alternative to this scenario is the place where the currency rises if it receives a level -1 exchange list or if the developers come with a strategy to treat the increasing display.