Pi Network Stagnates Despite New Developments
Pi Coin (PI) hovers around $0.3440, showing little progress as august.
The Pi Network token hasn’t budged much lately. Recent news and updates haven’t sparked much interest.One example is the Valour Pi Exchange-Traded Product (ETP). While aimed at exciting investors, it’s barely gathered steam, with only $1,967 in assets.
Several other efforts haven’t stirred much activity:
- The Pi Ecosystem Fund’s launch in May didn’t spark growth.
- AI Studio tools for developers didn’t impress traders.
- A protocol upgrade to match Stellar Protocol 23 went unnoticed.
Trading on Pi is restrained. Notably, the lack of new listings on big exchanges affects it, with tokens continually unlocking post mainnet launch last February.
Technical indicators don’t bring good news. The token slipped under the 50-week exponential moving average, signaling bearish trends. It also appears to form a bearish flag – downward momentum.
Further,Pi stays below crucial lines like Ichimoku clouds and the RSI’s 50 mark. A dip below $0.3327 might signal more losses ahead.
