Ahead of $175M Token Unlock, Pi Network (PI) Coin Drops 9%

On March 18, Pi Network saw its price tumble more than 9%, slipping to around $1.26

Jakarta, Pintu News – On Saturday (3/18), the price of Pi Network (PI) fell more than 9% to around $1.26, while the broader cryptocurrency market showed bullish sentiment.

The decline occurred ahead of a major token unlock this month, which sparked fears that Pi Coin could face further downward pressure in the near term.

However, despite the bleak signals, the surge in adoption in China and optimistic market predictions hinted at a turbulent yet potentially promising path ahead.

Pi Network faces pressure ahead of $175 million token opening

As reported by Coingape, the price of Pi Network is experiencing volatility as approximately 129 million Pi Coins, worth around $175 million, will be released this month, according to data from PiScan. Large token releases like this usually increase selling pressure, sparking fears that the Pi Coin price could fall below the $1 mark.

Read also: Pi Network Launches .pi Domains, Digital Revolution or Dead End?

On the other hand, the absence of a listing announcement on Binance also weakened investor sentiment. Many members of the Pi community were hoping that the exchange would list Pi Coin on March 14, known as “Pi Day.”

However, Binance has yet to confirm, fueling speculation and uncertainty in the market.

Despite the negative signals, some analysts remain optimistic about a potential rebound. Crypto analyst Chad Sniper warns that although Pi Coin may drop below $1 in the near term, the price still has a chance to climb back above $3.50 in the long term.

In addition, recent analysis suggests that if Binance does eventually list Pi Coin, the price of Pi Network could jump up to three times.

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.