Pi Network Token Price Plunges Over 40% in a Month
The native token of Pi Network, PI, has experienced a significant drop of over 40% in value over the past month, defying the expectations of investors following the mainnet launch.
Market Flood Expected with $91M Token Unlock
- An upcoming token unlock is set to release 99.3 million PI tokens into the market, valued at approximately $91 million.
- This influx of tokens, averaging 3 million per day, could worsen sell pressure and further drive down PI’s price.
- The peak unlock of 6.8 million tokens scheduled for April 3, 2025, poses a significant challenge for the token’s stability.
Disappointing Performance Post-Mainnet Launch
Despite high hopes surrounding the mainnet launch, PI’s price has plummeted from $2.99 in February 2025 to $0.9287 by March 25, 2025, marking a 68.9% decrease.
Challenges in the Current Market Environment
- Supply pressures and lack of clarity on exchange listings have contributed to PI’s downward trajectory.
- The broader cryptocurrency market’s recovery contrasts with PI’s struggles to maintain market value.
Technical Analysis Signals Bearish Trends
Technical indicators suggest a bearish outlook for PI:
- The current price hovers near critical levels, with support at $0.70 and resistance at $1.00.
- Bollinger Bands indicate a seller-dominated market.
- The Relative Strength Index (RSI) at 35.87 signals a bearish sentiment.
Pi Network’s Efforts to Strengthen the Ecosystem
Despite market challenges, the Pi Network team has taken steps to enhance the ecosystem:
- Users can now view their PI tokens in an official Telegram wallet.
- The migration grace period has been extended to encourage developer involvement.
These initiatives demonstrate a commitment to improving accessibility and developer engagement, potentially paving the way for a more robust ecosystem amid market uncertainties.
