• Pi Network has launched its open Mainnet Migration process and announced the implementation of a PI coin base mining rate.
• The project seeks to strike a balance between incentivizing active participation and maintaining a stable supply of Pi coins.
• Bearish pressure against the token remains strong, however, with investors anticipating potential price gains post-migration.

Pi Network Launches Open Mainnet Migration Process

Pi Network has officially began its open Mainnet Migration process, with investors closely monitoring its progress. The platform has announced the implementation of the PI coin base mining rate in order to ensure the stability and sustainability of the network.

PI Coin Base Mining Rate Adjustment for August

The adjustment process involves evaluating various factors, including network participation, user activity, and the growth of the Pi Network community. The project aims to strike a balance between incentivizing active participation and maintaining a stable supply of Pi coins by determining an optimal base mining rate.

PI Coin Price Facing Strong Bearish Pressure

Long upper wicks on recent daily candles of the Pi network token prices underscore the strength of bearish pressure against the token. If PI coin price continues to fall, it might drop to support levels near $22.4 or $20 before recovering. Alternatively, if PI coin price gains momentum it may target resistance levels near $25.6 or $28.9 before downside corrections pare gains. The relative strength index for PI coin remains neutral with a value of 49.48 on daily charts.

Investors Anticipate Potential Price Gains Post-Migration

As users prepare for Pi Mainnet Migration Process, PI coin enthusiasts closely monitor mainnet launch progress in anticipation of potential price gains post-migration Investors and early adopters are likely holding onto their PI coins in anticipation of such increases in value following migration completion successively..

Conclusion

Pi Network has launched its open MainNet Migration process and announced adjustments to its base mining rates accordingly as part of efforts towards achieving network stability and sustainability while encouraging active participation from investors within its community at large . Despite this development however , bearish pressure remains strong against PI -coin price , yet investors hope that positive returns will follow once successful migration is achieved