- Pi Network Coin has dropped 9% to $0.471 due to concerns over a massive token unlock releasing over 100 million tokens.
- Despite weak technicals and low volume, hopes of a rebound remain tied to market recovery and recent network upgrades.
Pi Network Coin, once a crypto darling due to its mobile-first mining concept, has seen its price tumble by 9% in the last 24 hours, now hovering around $0.471—alarmingly close to its all-time low of $0.40. This drop comes at a time when the broader crypto market is on an upswing, with Bitcoin climbing past $118,000 and Ethereum breaking the $3,000 mark.
Pi Network Token Unlock Looms Large
Pi Network Coin fell 9% to $0.471 as investors reacted to the upcoming unlock of over 100 million tokens. Analysts still see a chance for recovery, driven by market gains and recent network upgrades.
This comes just after Pi2Day, a recent celebration aimed at energizing the community, failed to move the needle. Over the past two weeks alone, Pi has shed over 29% of its value, cementing its position in a downward trend.
Weak Technicals, Bearish Signals
Technically, Pi Coin is stuck in a descending channel, with each recovery attempt quickly reversed. Its trading volume remains weak at $19.95 million, and the Relative Strength Index (RSI) sits at 39.8—deep into oversold territory. With limited buying interest and growing bearish pressure, analysts warn the coin could retest $0.40 or even fall to $0.38 or $0.35 if sentiment worsens.
Can Pi Stage a Comeback?
Still, hope isn’t lost. A potential double-bottom pattern on the charts hints at a possible bullish reversal. The ongoing crypto bull run may also lift Pi, especially if token supply pressure eases after the unlock event. Additionally, the recent upgrade to the Pi Node—designed to strengthen decentralization—offers long-term promise.
While the immediate outlook remains bearish, Pi Network’s future hinges on increased utility, exchange listings, and renewed community trust. For now, all eyes remain on the market’s reaction to the upcoming unlock.
ALSO READ:Pi Network Launches Major Node Upgrade to Boost Decentralization
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.