$PI At this point, the people watching are the most uncomfortable. If you don’t chase, you’re afraid it bounces from $0.075 back to $0.085 and you miss it by 10%. If you do chase, you’re afraid it drops another 30% to $0.05, and all you’ll be holding is your cost basis. Whether you chase or not, the cost is written on the order book.
In the past 30 days it fell 40%, in the past 7 days it fell 16%, and today it fell another 7%. From $0.123 all the way down—after the high-volume bearish candle on July 14th (trading volume surged to $29.56M)—volume gradually shrank to $12.62M, and the price still couldn’t hold above. What does that tell us? Near $0.077, there were funds trying to pick up the dip, but they couldn’t hold it. The strength supporting the bids is weakening. When volume contracts and the price makes new lows, that’s a classic “bearish continuation” signal.
With a market cap of $830M and rank #75, daily turnover is only $12.6M—liquidity isn’t very strong. It’s still 97% away from ATH $2.99. Above, there’s an endless supply of trapped holders. In the near term, there are no signs of a narrative re-igniting catalyst. What I care about most is this: even if $0.075 looks cheap, without incoming bid support, a slow grind lower can continue to wear down your patience.
On risk: if panic selling appears with a surge in volume, it could accelerate the bottoming process. But if it keeps declining on shrinking volume, that’s the most torturous way for prices to move. The conditions for this thesis to hold are—price must regain $0.085 on increased volume; otherwise, the tendency is to keep probing lower.
Finally, leave you with a choice: at this level, will you take a small position to test the waters and bet on a rebound, or wait for it to reclaim and hold $0.085 on volume? Or just give up and wait for the next cycle’s alpha?
In the past 30 days it fell 40%, in the past 7 days it fell 16%, and today it fell another 7%. From $0.123 all the way down—after the high-volume bearish candle on July 14th (trading volume surged to $29.56M)—volume gradually shrank to $12.62M, and the price still couldn’t hold above. What does that tell us? Near $0.077, there were funds trying to pick up the dip, but they couldn’t hold it. The strength supporting the bids is weakening. When volume contracts and the price makes new lows, that’s a classic “bearish continuation” signal.
With a market cap of $830M and rank #75, daily turnover is only $12.6M—liquidity isn’t very strong. It’s still 97% away from ATH $2.99. Above, there’s an endless supply of trapped holders. In the near term, there are no signs of a narrative re-igniting catalyst. What I care about most is this: even if $0.075 looks cheap, without incoming bid support, a slow grind lower can continue to wear down your patience.
On risk: if panic selling appears with a surge in volume, it could accelerate the bottoming process. But if it keeps declining on shrinking volume, that’s the most torturous way for prices to move. The conditions for this thesis to hold are—price must regain $0.085 on increased volume; otherwise, the tendency is to keep probing lower.
Finally, leave you with a choice: at this level, will you take a small position to test the waters and bet on a rebound, or wait for it to reclaim and hold $0.085 on volume? Or just give up and wait for the next cycle’s alpha?