In recent days, the Pat Network project has entered a sensitive state as users and community members seriously demand more transparency from the development team. Concerns arise that this project might suffer a fate similar to projects like Mantra DAO. Within the past 24 hours, the PI token price has dropped by 17% to $0.61 due to intense selling pressure. The decrease in Pat Network’s price happened as some users draw parallels between the current status of Pat Network and recent issues with the Mantra DAO project. Many believe that increased transparency can attract investor trust and pave the way for listing this token on major exchanges like Binance and Coinbase, potentially driving Pat Network’s price higher. Dr. Altcoin, an active community member, stated on social media X that the project’s core team lacks necessary transparency, which needs serious attention during the transition from the testnet to the mainnet. Other users also pointed out the lack of tangible development post mainnet launch. The lack of transparency poses a significant barrier to listing this token on reputable exchanges as they require projects with auditable structures. Furthermore, concerns exist regarding Pat Network’s tokenomics since the three main developer wallets hold over 67 billion tokens, equivalent to over half of the total 100 billion token supply. Some analysts believe that increased transparency could lead to a price surge for the PI token to $3. From a technical analysis perspective, Pat Network has entered a zone of increased demand. Based on price history, each time the price reached this level, buying increased, and price growth occurred. Breaking through the $0.73 resistance could signal the start of a strong uptrend. Additionally, the Relative Strength Index (RSI) has entered the oversold territory and reached a level of 28. The last time Pat Network was in such conditions, its price surged by 99% in a few hours, indicating a potential impending market return. You can monitor the prices of all tokens and cryptocurrencies live on the real-time digital currency prices page.
