Pi (PI) has announced an increase in the token’s mining rate as last month’s token allocation target was not met. This could favor a bullish Pi Coin price prediction as its circulating supply is expanding at a slower pace.
After this change, the mining rate for Pi currently sits at 0.0030165, resulting in a 0.93% increase.
This gives miners an additional incentive to ramp up their efforts to tap into the token’s locked allocation.
One of the alternatives they have to increase their output is to lock in their Pi tokens via the mobile app. Depending on the length of the lock-up period, they could boost mining rates by as much as 600%.
If miners opt to do this to boost their output, this could dramatically shrink the token’s circulating supply and support a bullish Pi Coin price prediction.
Data from PiScan shows that the number of tokens to be released will drop sharply starting on July 11 when 10.5 million PI will be freed up. This represents a nearly 50% drop compared to tomorrow’s unlock of 19.4 million PI. Meanwhile, by the end of this month, on July 31, only 4.9 million PI will be released.
Pi Price Prediction: PI Could Rise to $0.60 Again if Supply Expands at a Lower Pace
Looking at the 4-hour chart, PI has bounced off a key support at $0.4750 and its decline seems to have decelerated after the widely awaited “Pi Day” event.
The protocol launched a staking initiative that will allow Pi holders to rank their favorite apps within the ecosystem by locking up their tokens. However, the fact that this staking program offers zero rewards to investors for doing this could result in low adoption rates.
The price has broken a falling wedge setup upon bouncing off this support area and this could favor a bullish Pi Coin price prediction with a first target set at $0.5700.
A ‘golden cross’ between the 9-period and 21-period exponential moving averages (EMAs) would confirm this positive outlook.
Meanwhile, if the price drops below $0.4750, this bearish breakout could result in a retest of its all-time lows.
The impact that this latest increase in Pi’s mining rate will have on its price is still a bit unclear. In contrast, the best crypto presales like SUBBD (SUBBD) seem poised to outperform well-established tokens like PI as investors are pouring thousands of dollars into the project just a few weeks after its launch.
SUBBD (SUBBD) Raises More Than $700,000 to Launch In Decentralized Content Distribution Platform
SUBBD (SUBBD) aims to revolutionize how influencers share their content by introducing a decentralized platform that eliminates unfair bans and allows them to keep a higher share of their earnings.
SUBBD supports AI-generated content and offers powerful tools to monetize these creations so influencers can generate passive income as well.
Fans will benefit from buying the $SUBBD token as they will get subscription discounts, early access to new features, and the chance to make custom requests to their favorite creators.
Meanwhile, influencers will use this governance token to vote on policy changes and other key project roadmap decisions.
More than 2,000 creators have already embraced this platform. Once their combined following of 250,000 fans gets on board, the demand for $SUBBD will explode.
To buy this token at its discounted presale price, head to the SUBBD website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH or use a bank card to invest.
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