Tensions are rising inside the Pi Community neighborhood as customers report new migration necessities all of a sudden showing of their apps, sparking anger and confusion simply weeks forward of a significant token unlock.
Key Takeaways:
- Pi Community customers are annoyed over second migration prompts and unresolved KYC points.
- An enormous 276 million PI token unlock in June may add important promoting stress to the market.
- Pi Coin stays underneath bearish stress, with $0.64 assist in danger and decrease ranges attainable if sentiment worsens.
On X, many Pi Community customers shared screenshots of their app’s up to date guidelines. Even those that had already accomplished their preliminary migration have been shocked to see new prompts for motion.
“This Pi of a factor is nonsense. After mining for years we’re denied entry to our coin… The core staff ought to rethink how they handle their so-called Pi Group,” person @bfrancis_12 wrote on X.
Pi Community Customers Complain About Second Migration
Some customers have complained that the second migration comes as they continue to be trapped in unresolved KYC states, unable emigrate their balances regardless of following all prior steps.
“I’m not but migrated why are you speeding for 2nd migration?” one X person wrote, whereas others complained about pending KYC.
A well-liked parody account of Pi Community founder Dr. Nicolas Kokkalis fueled speculation with a viral put up declaring, “PI NETWORK 2ND MIGRATION HAS BEGUN!”
The message, which rapidly gained traction, urged customers to organize for Mainnet by finishing a number of steps: submitting KYC verification, finalizing their guidelines (together with pockets and lockup settings), and approving Pi transfers for Mainnet.
The put up claimed that finishing these steps would allow customers to unlock real-world utility for his or her Pi cash, together with buying items and companies, accessing Pi-powered decentralized apps (dApps), and collaborating in broader Web3 innovation.
Nevertheless, the Pi Core Workforce has but to verify any new migration section via verified channels.
All this comes as Pi Community prepares to unlock 276 million PI tokens in June, a provide occasion valued at roughly $176 million, in accordance with knowledge from PiScan.
With buying and selling volumes low and sentiment fragile, this unlock may severely check market resilience.
Pi Coin Stays Underneath Stress as Bears Dominate
Pi Coin continues to trade under pressure, hovering across the $0.64 mark.
The 30-minute chart reveals a protracted downtrend from the Might 12 highs, with worth consolidating close to the decrease Bollinger Band at $0.6410. RSI (14) at 40.27 indicators weak shopping for momentum, whereas MACD stays flat, indicating indecision.
Zooming into the 5-minute chart, Pi faces the same image. RSI has dropped to 29.00, oversold territory, suggesting that short-term sellers are dominating.
MACD can be trending destructive, with no bullish divergence in sight. The shortage of quantity spikes additional confirms fading curiosity.
On the 1-minute chart, Pi examined intraday lows of $0.6405, whereas RSI briefly dipped to 30.90 earlier than a slight bounce. Nevertheless, decrease highs and decrease lows persist, holding the near-term bias bearish.
With the large 276 million PI token unlock looming this month, draw back dangers stay elevated.
If $0.64 breaks decisively, the following assist lies at $0.60, adopted by the psychological $0.40 stage. To flip the narrative, bulls would wish to reclaim the $0.65-$0.66 zone with sturdy quantity.
The put up Pi Network Bombshell: Users Furious With Endless Migration, Can the Pi Price Hold? appeared first on Cryptonews.
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