Pi Network Adjusts Mining Rate as Token Allocation Falls Short – Could This Propel PI Price Higher?

The Pi Network (PI) has implemented a mining rate increase after failing to meet last month's token allocation target. With the adjusted mining rate now at 0.0030165 (a 0.93% increase), this development suggests a potential bullish scenario for PI as circulating supply growth slows. Miners now have enhanced incentives to increase participation, including opportunities to boost mining yields up to 600% by locking their PI tokens via the mobile app—a move that could significantly reduce circulating supply.

PiScan data indicates a substantial drop in token releases beginning July 11, with only 10.5 million PI entering circulation compared to 19.4 million PI unlocked the previous day. By month's end, daily unlocks will decrease to 4.9 million PI. This constrained supply scenario could positively impact PI's valuation, potentially driving prices toward $0.60 if current trends continue.

Technical analysis shows PI has rebounded from a critical support level at $0.4750 following the network's 'Pi Day' event. The formation of a bullish falling wedge pattern suggests potential upside to $0.5700, with confirmation pending a golden cross between the 9-period and 21-period EMAs.

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