Pi Network’s Token PI Rises 3% Amid Low Unlock Volume
Pi Network's native token, PI, is currently trading at approximately $0.58, reflecting a nearly 3% increase in the last 24 hours. This recovery follows a period of price stagnation, attributed to a low number of unlocks this week.
- Only 1.5 million PI tokens are set to be unlocked daily until April 11.
- The most significant unlock will occur on April 18, with around 9.8 million tokens valued at $5.7 million.
- A total of approximately 160.74 million PI tokens will be unlocked in April, worth about $93.77 million.
- Community members are advocating for a token burn strategy to address inflation concerns.
There are rumors regarding a potential listing of PI on Binance. Previous community votes indicated strong support for the listing, but no official announcement has been made yet.
As of now, PI holds a market cap of $3.94 billion, ranking 26th among cryptocurrencies. The Relative Strength Index (RSI) is at 46, indicating neutral-to-bearish conditions, though recent spikes suggest increasing buyer interest.
Bollinger Bands indicate consolidation, with resistance near $0.60; a breakout above could target $0.67. The MACD shows a bullish crossover, signaling rising momentum.
- An analyst predicts a potential rally to $3 by June 2025.
- 944K PI tokens will unlock today, potentially impacting the asset’s price.
- Investors are advised to prepare for further unlocks expected mid-April.
Source: TradingView
Source: TradingView