PI Network的供應激增：價格問題的秘訣？

PI Network通過其大型令牌供應和預定的解鎖面臨挑戰。需求會跟上嗎，還是價格會遭受損失？讓我們研究細節和潛在影響。

Pi Network, with its ambitious vision for a decentralized future, is facing a growing concern: its massive token supply. With scheduled unlocks adding millions of PI coins into circulation daily, the question on everyone's mind is: can demand keep pace, or are we heading for a price crash? This is a question that needs a response.

PI網絡以其對分散的未來的雄心勃勃的願景，正面臨著越來越多的關注：它的代幣供應。隨著預定的解鎖每天將數百萬個PI硬幣增加到流通，每個人的想法是：要求保持節奏，還是我們要付出價格崩潰？這是一個需要回答的問題。

The Unlocking Floodgates

解鎖的閘門

Recent data reveals that Pi Network is releasing a significant number of tokens into the market. Over the next month, a staggering 246.88 million PI coins are set to unlock, injecting roughly 4.73% of the locked supply into circulation. That's an average of 8.23 million PI tokens hitting the market each day, valued at approximately $3.76 million based on the current price of around 45 cents.

最近的數據表明，PI網絡正在向市場發布大量令牌。在下個月，驚人的2.4688億PI硬幣將解鎖，將鎖定供應的大約4.73％注入流通。根據目前的價格約為45美分，平均每天有823萬個PI令牌上市，價值約376萬美元。

A single day, July 10th, will see a peak unlock of 16.35 million PI, worth a whopping $7.48 million. Currently, over 5.21 billion PI remain locked, valued at about $2.38 billion. Only a small fraction, about 2.5%, of the total supply has been circulating since the network's inception. The lack of a clear roadmap or timeline for unlocking the remaining supply adds to the uncertainty.

7月10日的一天，將有1635萬個PI的峰值解鎖，價值高達748萬美元。目前，超過52.1億的PI仍被鎖定，價值約為23.8億美元。自網絡成立以來，只有一小部分（約佔總供應量的2.5％）在循環。缺乏解鎖剩餘供應的明確路線圖或時間表增加了不確定性。

History Repeats: Unlock Events and Price Dips

歷史重複：解鎖事件和價格下降

Past unlock events paint a concerning picture. In May, a 255 million PI unlock triggered a 13% price drop in a single day. Similarly, an unlock in late June coincided with a 25% price decline. These instances highlight the direct pressure that new supply exerts on the market, testing demand with each release.

過去的解鎖事件描繪了有關圖片的描繪。 5月，2.55億PI解鎖觸發了一天的價格下跌13％。同樣，6月下旬的解鎖與價格下降了25％。這些實例強調了新供應在市場上施加的直接壓力，從而測試了每個版本的需求。

Unlike other cryptocurrencies like Binance Coin (BNB) or Shiba Inu (SHIB), Pi Network doesn't employ token burns to reduce supply. Every new coin remains in circulation indefinitely. If buyer demand lags behind the increasing supply, the value of existing holdings could erode.

與其他加密貨幣（例如Binance Coin（BNB）或Shiba INU（SHIB））不同，PI網絡不使用令牌燃燒來減少供應。每個新硬幣無限期保持循環。如果買方要求落後於供應量增加的滯後，那麼現有持股的價值可能會侵蝕。

The Whale Factor: Concentrated Holdings

鯨魚因子：集中持有

A significant portion of Pi's supply is concentrated in the hands of a few large wallets. The top 100 wallets control approximately 96.4% of the unlocked supply, with the top 10 wallets alone holding over 61%. This concentration gives these large holders the power to significantly influence the market. Their actions during unlock phases can trigger price movements that smaller traders struggle to counter.

PI供應的很大一部分集中在一些大錢包的手中。前100個錢包控制著未鎖定供應的約96.4％，僅排名前10的錢包佔61％以上。這種集中度使這些大型持有人具有重大影響市場的能力。他們在解鎖階段的行動可以觸發價格變動，而小型交易者努力反擊。

Pi coin's daily trading volume ranges from $18 million to $54 million. With daily unlocks adding around $3.76 million worth of new tokens, this new supply can represent a substantial portion (7-20%) of all trading activity. If daily volume decreases or new buyers don't emerge, the market may struggle to absorb these new coins.

Pi Coin的每日交易量從1800萬美元到5400萬美元不等。隨著每日解鎖的增加約376萬美元的新代幣，這種新供應量可以代表所有交易活動的很大一部分（7-20％）。如果每天的數量減少或新買家不出現，市場可能難以吸收這些新硬幣。

Price Watch: Key Support Levels

價格觀察：關鍵支持水平

Currently, Pi to USD trades around 45.7 cents, struggling below key exponential moving averages. The immediate support level lies near 45.5 to 45.6 cents. A break below this level could send the price tumbling towards the 42 to 40 cent range. Conversely, a strong break above the 50 EMA near 48 cents might pave the way for a move to the 50 to 52 cent zone. Until Pi demonstrates a clear breakout with strong volume, the short-term outlook remains bearish, especially with ongoing daily unlocks.

目前，PI至USD的交易約為45.7美分，低於主要指數移動的平均值。直接支撐級別在45.5至45.6美分的近處。低於此水平的休息可能會使價格跌至42至40美分的範圍。相反，在48美分附近的50 EMA上方的強烈突破可能為轉移到50至52 Cent的區域鋪平了道路。在Pi表現出明顯的突破性和強勁的量之前，短期前景仍然看跌，尤其是每天持續的解鎖。

Community Strength vs. Market Realities

社區實力與市場現實

Despite these challenges, Pi Network boasts a strong and active community. Recent initiatives like the Pi App Studio, which allows users to build apps without coding skills, showcase the project's commitment to innovation and digital inclusion. However, community enthusiasm alone may not be enough to counteract the effects of a growing supply.

儘管面臨這些挑戰，但PI Network還是一個強大而活躍的社區。諸如Pi App Studio之類的最新舉措，該計劃允許用戶在不編碼技能的情況下構建應用程序，展示項目對創新和數字包含的承諾。但是，僅社區熱情可能不足以抵消不斷增長的供應的影響。

Analysts are also raising concerns, with warnings about the potential impact of upcoming token unlocks. The sheer volume of tokens entering the market could overwhelm demand and further depress prices if key support levels are breached.

分析師也引起了人們的關注，並警告即將到來的令牌解鎖的潛在影響。如果違反關鍵支持水平，進入市場的代幣數量可能會壓倒需求並進一步降低價格。

Final Thoughts: Navigating the Pi Supply Puzzle

最終想法：導航PI供應難題

Pi Network's journey is at a critical juncture. The project's success hinges on its ability to manage its token supply effectively and foster sufficient demand to absorb the ongoing unlocks. While community support and innovative initiatives are encouraging, the market realities of supply and demand cannot be ignored.

PI Network的旅程處於關鍵時刻。該項目的成功取決於其有效管理其令牌供應並促進足夠需求以吸收正在進行的解鎖的能力。儘管社區支持和創新計劃令人鼓舞，但供求的市場現實卻不容忽視。

So, what's the takeaway? Keep a close eye on those unlock dates, watch for volume spikes, and maybe keep a little extra coffee on hand – it's gonna be an interesting ride! Just remember, this isn't financial advice, just a friendly nudge to stay informed. After all, in the wild world of crypto, knowledge is your best sidekick!

那麼，收穫是什麼？密切關注那些解鎖的日期，注意峰值的峰值，也許手頭上少量咖啡 - 這將是一個有趣的旅程！請記住，這不是財務建議，只是一個友好的推動，以保持知情。畢竟，在加密世界的野生世界中，知識是您最好的搭檔！