PI Token Faces Continued Decline Amid Supply Concerns
PI, the native token of Pi Network, has resumed its downward trend in May. It failed to hold the $0.6 support level due to bearish market conditions. As of now,PI is trading at $0.59, down nearly 10% over the past week.
Looking at the broader picture, PI has lost over 23% of its value since last monthS high.It’s also down nearly 80% from its all-time high of $2.99 in late February. The market cap is currently at $4.1 billion, with a daily trading volume of $75 million.
Recent selling pressure stems from fears of token dilution. In April, about 21.4 million PI tokens were unlocked, worth roughly $12.3 million today. This trend is expected to continue, with an average of over 131 million PI tokens hitting the market each month over the next year.
Despite the price drop, Pi Network’s ecosystem is expanding.The open mainnet is live, and developers are
