Pi Network’s Price Drops 10% to $0.55 Amid Token Unlock Concerns
Pi Network's #PI price experienced an 80% surge to $0.75 but has since fallen over 10% to $0.55 within 24 hours. The price volatility continues, with daily trading volumes averaging over $450 million.
Token Unlock Concerns
- Heightened volatility due to upcoming unlocked tokens for centralized exchanges (CEXs).
- Market analysts warn Pi Coin could drop to $0.30 if tokenomics issues aren't addressed.
- Investor concerns about increased selling pressure amid a lack of catalysts lead to a bearish short-term outlook.
- Current average daily unlock is approximately 5.1 million π, with 155 million tokens expected to be available in the next 30 days.
- Unlock rates are projected to drop between April 7 and April 11, possibly allowing for a short-term recovery.
Future Price Predictions
- Analysts predict Pi Coin could reach $3 by June despite current price declines.
- Crypto commentator Moon Jeff remains optimistic, suggesting stability in global trade may trigger a price rally.