The Pi Token is under pressure due to the rise in supply, but the core team remains confident.

In the context of ongoing market uncertainty and a sharp decline in the value of the token, the main Pi team has reaffirmed its confidence in the blockchain project as an industry leader. In their latest publication, the team highlighted the fundamental achievements of Pi Network and provided optimistic forecasts regarding the future of Pi Coin, despite the mixed reactions from analysts.
Will the double bottom of PI hold amid the unlocking of tokens?

At the time of publication of the article, the data showed that Pi was trading at $0.4411, which is 85% lower than the all-time high of $2.995, reached shortly after the launch of the Open Network earlier this year. Despite the significant price drop, the Pi development team found a potentially positive signal that they believe could trigger a soon-to-come price reversal.

Notably, PI has formed a "double bottom" pattern around the price level of $0.4, which the team identifies as a potential demand area. However, analysts are not so optimistic about the bullish potential of the blockchain token, as the Pi team refers to a forecast that the upcoming token unlock could reduce the price by 30%, resulting in the release of about 276 million Pi tokens, which accounts for nearly 3.7% of the total supply, increasing selling pressure until July.
What do analysts think about PI?

Meanwhile, the downward pressure on Principal continues to build as technical analysts focus on the support at $0.4. A break of this level could trigger further declines in the cryptocurrency price, which may be exacerbated by an increase in the supply of tokens from mobile mining, potentially leading to a further drop in price to $0.35 by August.

In any case, July remains an uncertain month for the price of PI, considering the range of analysts' forecasts, which vary from $0.31 to $0.45, highlighting the impending uncertainty. However, the future of the crypto asset may depend on the overall trend in the crypto market and the dynamics of the supply of its native tokens.
Despite skepticism regarding transparency, tokenomics, and listings on exchanges, some analysts emphasize that the strict KYC protocols of Pi and the integrated compliance features provide a level of reliability rarely seen in similar projects.

Nevertheless, the core Pi team remains optimistic in the long term, where its future depends not on short-term price spikes, but on the rise of the ecosystem and infrastructure. According to the publication, the team predicts a return to an upward trend, during which the price of PI will fluctuate in the range of $0.55 to $3, confirming faith in the structural value and strategic momentum.