Tensions increase within the PI network community while users report that new migration requirements suddenly appear in their applications, triggering anger and confusion a few weeks before unlocking major token.
The main dishes to remember:
- PI network users are frustrated by the second migration prompts and unresolved KYC problems.
- A massive unlocking of 276 million PI tokens in June could add significant sales pressure to the market.
- Pi Coin remains under down pressure, with support of $ 0.64 in danger and possible lower levels if the feeling worsens.
On X, many users of the PI network have shared screenshots from the updated control list of their application. Even those who had already finished their initial migration were surprised to see new invites to action.
“This PI of a thing is a nonsense. After extraction for years, we have refused access to our room … The main team should rethink the way they manage their so-called Pi community,” wrote the user @ bfrancis_12 on X.
PI network users complain about the second migration
Some users have complained that the second migration occurs because they remain trapped in the unrepected KYC states, unable to migrate their sales despite all the previous stages.
“I am not yet migrated why do you rush for 2nd migration?” An X user wrote, while others have complained about KYC pending.
A popular report of the parody of the founder of the PI network, Dr. Nicolas Kokkalis, fueled speculation with a viral position declaring: “The 2nd migration of the PI network has started!”
The message, which quickly gained ground, urged users to prepare for Mainnet by performing several steps: submit KYC verification, finalize their control list (including portfolio and locking parameters) and APP approval for the Mainnet.
The message stated that the realization of these steps would allow users to unlock the usefulness of the real world for their PI parts, including the purchase of goods and services, access to decentralized applications (DAPP) powered by PI and participation in a broader web3 innovation.
However, the Pi Core team has not yet confirmed any new migration phase via the verified channels.
All this occurs while the PI network is preparing to unlock 276 million PI tokens in June, a supply event worth around $ 176 million, according to Piscan data.
With low trading volumes and fragile feeling, this unlocking could seriously test market resilience.
Pi coin stay under pressure while the bears dominate
Pi coin continues to be negotiated under pressure, oscillating around the $ 0.64 bar.
The 30 -minute graph shows a prolonged downward trend compared to the peaks of May 12, with prices consolidating near the Bollinger band less than $ 0.6410. RSI (14) to 40.27 signals a low purchase momentum, while MacD remains flat, indicating indecision.
Zooming on the 5 -minute board, Pi faces a similar image. RSI fell to 29.00, which occurs, which suggests that short -term sellers dominate.
MacD is also negative fashion, without divergence increased in sight. The absence of volumes also increases the discoloration of interest.
On the one -minute graphic, PI tested intrajournable stockings of $ 0.6405, while RSI briefly plunged at 30.90 before a slight rebound. However, lower ups and lower stockings persist, keeping the short -term lower bias.
With the unlocking of 276 million pi massive tokens this month, the lower risks remain high.
If $ 0.64 decisively breaks, the following support is at $ 0.60, psychological level of $ 0.40. To return the story, the bulls should recover the area from $ 0.65 to $ 0.66 with a strong volume.
Can the Pi-end users of the PI network without endless migration, the PI price? appeared first on Cryptonews.
