Pi Network Faces Challenges as Price Slips Below $1
pi Network’s price has fallen below $1, currently trading at $0.92. This drop comes after a 4% decline in the past day, despite a broader crypto market recovery. Pi has lost more than 65% of its value since its peak of $3 this year.
The main reason for this decline is the growing supply pressure. Nearly 99.3 million Pi tokens, worth about $91 million, are set to unlock over the next 30 days. On April 3, the largest single-day unlock will release 6.8 million tokens. More significant unlocks are expected in April, May, and June, possibly leading to increased selling pressure.
Uncertainty about exchange listings, especially on Binance, has also affected investor sentiment.Concerns about centralization are growing, as the Pi Core Team manages the SuperNodes. Some suggest burning tokens could stabilize the price. Despite a recent burn of 10 million tokens,the price hasn’t improved much.
Technical analysis shows a weak trend for Pi.The price is struggling to stay above $1.00, with support at $0.70.If it falls below $0.85, it may drop to $0.70. A break above $1.00 could shift the momentum, with $1.34 as the next target.
For now, Pi remains weak unless buyers push it higher. Investors should stay informed and make their own decisions.
