After seven years of development, Tap To Earn Pi Network is finally set to launch its mainnet today at 8 AM UTC. However, fear is growing as Pi Coin has already plunged 55%, now trading around $30. This sudden drop has fueled speculation that the mainnet launch could lead to further bigger drop ahead.
Profit-Taking Opportunity for Early Miners
One of the biggest risks for Pi coin comes from early miners. These miners have accumulated Pi tokens at little to no cost, and are likely to view the mainnet launch as their first real opportunity to monetize their holdings.
For these individuals, selling a portion of their tokens could be a strategic move to lock in profits, especially if they believe the initial market price will be higher due to hype and speculation.
If a significant number of early miners decide to sell simultaneously, the market could experience a rapid increase in supply, potentially reducing the demand and this could…
