Why Is Pi Network Price Falling Below $1 Despite Crypto Market Recovery?
Pi’s price struggles despite crypto rebound, unlocking concerns grow.
By Tylt Editorial Team
Pi Network declines 4%, trading at $0.92 despite market gains.
Massive token unlocks are increasing supply pressure.
Investor frustration over exchange listings and centralization concerns.
Pi Network's price has fallen below the crucial $1 mark, currently trading at $0.92 after a 4% dip in the past 24 hours. While the broader crypto market shows signs of recovery, Pi continues to struggle, down over 65% from its yearly peak of $3.
One of the main reasons for this downturn is the increasing supply pressure. Data from Pi Scan reveals that nearly 99.3 million Pi tokens, worth around $91 million at current prices, are set to be unlocked over the next 30 days. This will result in an average of 3 million tokens entering circulation daily. The biggest single-day unlock is scheduled for April 3, when 6.8 million tokens will be released. The trend is expected to intensify, with 115.57 million tokens unlocking in April, followed by 182 million in May and 222 million in June. This large influx of tokens could exert further selling pressure on the price.
Investor sentiment has also taken a hit due to the uncertainty surrounding exchange listings. Many Pi holders were hopeful for a Binance listing, but the lack of confirmation has led to growing frustration. Additionally, concerns regarding centralization have resurfaced, as the Pi Core Team still controls the SuperNodes, which are critical for the network's functionality. While the number of these nodes has increased from three to 42, there has been no clear transparency on how they were selected.
Some analysts suggest that burning Pi tokens could help stabilize the price. Cryptocurrency analyst Dr. Altcoin recently recommended reducing the supply by 60–100 million Pi coins to curb the selling pressure. Although Pi Network recently burned 10 million tokens, bringing the total circulating supply down to 6.77 billion, the price has not seen any significant positive impact.
On the technical front, Pi remains in a weak position, currently trading at $0.9253. It has strong resistance at $1.00 and support at $0.70. The Bollinger Bands show that sellers are in control, with the price hovering near the lower band. The Relative Strength Index (RSI) at 43.27 indicates a bearish trend, while key moving averages and the MACD signal selling pressure. If Pi drops below $0.85, it could test the $0.70 level. However, a break above $1.00 could shift momentum toward the next target of $1.34.
For now, Pi Network remains under pressure, with price movement largely dictated by token unlocks and investor sentiment. Unless buying activity increases, the price may continue to face downward pressure in the short term.
