Pi Network Token Faces 63% Decline Amid Crypto Market Downturn, Solaxy Presale Raises $26.8M

As the broader crypto market experiences a significant downturn, the Pi Network (PI) token has faced considerable volatility. After reaching an all-time high of $2.98 in late February, PI has since experienced a steep decline, causing investors to seek more strategic investments. The token, which launched on February 20th at approximately $1.24, initially dropped to $0.65 within hours of its launch. Despite this rocky start, it managed to reach its peak price of $2.98 on February 26th. However, the token has since lost support at the $1.28 level, currently trading at $1.08 and facing resistance at the $1.24 level.

Crypto analyst Moon Jeff believes that PI is preparing for a further downturn, expecting it to reach $0.8, which he sees as a strong buying zone. The token's 14-day Relative Strength Index (RSI) of 41.37 indicates that it is in a neutral-to-bearish zone, leaving room for a further dip in its price. The heightened volatility, as indicated by the 71.35% increase in trading volume during the sell-off, suggests potential for the token to enter the oversold territory if the price continues to fluctuate, which could signal the beginning of future upward momentum.

In contrast, the Solaxy (SOLX) presale is gaining traction, with nearly $1 million raised over the past week, approaching the $27 million mark. The project aims to improve Solana’s scalability by launching a Layer 2 blockchain, which could result in faster transactions and lower gas fees. Investors are rushing to secure their share of SOLX ahead of its launch, as the per-token price rises over time due to its dynamic pricing model.

Solaxy has raised $26.8 million so far, with impressive marketing efforts supported by 15% of the total token supply. The project enjoys the support of over 82,700 followers across its X (Twitter) and Telegram channels. Jacob Crypto Bury, a member of the 99Bitcoins team of crypto experts, believes Solaxy is prepared for an explosive launch, pointing to the strength of its community and its partnership with Best Wallet, which previously endorsed Pepe Unchained (PEPU), a project that soared by over 700% just 48 hours after its launch.

If Solaxy maintains its momentum, Jacob Crypto Bury believes it could soar by 10x, urging his audience to start accumulating SOLX during the presale. The project has passed an audit by Coinsult, confirming it meets the best smart contract security practices, with no issues found in its code. Additionally, 10% of the total token supply is set aside for liquidity, which helps mitigate the risks typically associated with early-stage token investments.

Investors can purchase SOLX using SOL, ETH, USDT, or a credit or debit card via the presale website. Those using Best Wallet can also swap their BNB for SOLX. To maximize their investment, investors can take advantage of the project’s 152% staking APY by locking their tokens in the staking pool. However, as investors stake more SOLX, the yield decreases, ensuring early backers get the best rewards. Solaxy’s early presale success and unique position in the market give it a solid chance to explode on launch, and since its presale is nearing the final stage, this could be the best time to start investing in SOLX.