Pi Network's Cryptocurrency Has Been Experiencing Steady Decline in Recent Weeks

Pi Network's cryptocurrency has been experiencing steady decline in recent weeks, with the price dropping below the important $1 mark.

The price of Pi Network’s cryptocurrency (PI) has dropped below the $1 mark and is now trading at lower levels.

The digital asset is currently changing hands at $0.94, showing a 6.3% decrease over the last 24 hours. This downturn pushes Pi Coin more than 66% below its all-time high of around $3, which it touched earlier this year.

Despite the price decline, Pi cryptocurrency’s trading volume has increased by 12% to reach $284.36 million. This higher trading activity demonstrates that investors remain interested in the token even as its value falls.

Lack of Binance Listing and Major Announcements Impacts Sentiment

Several factors contribute to the recent weakness in Pi’s price. Lack of confirmation about a potential Binance listing disappoints many investors who had hoped for broader exchange support.

Also, the absence of major announcements from the Pi Core Team has affected market sentiment.

A pressing concern for Pi holders is the upcoming token unlocks. Data from PiScan indicates that nearly 97.65 million Pi tokens, valued at roughly $93 million at current prices, will be released into circulation over the next 30 days. The daily average unlock rate stands at 3.25 million tokens.

On April 3rd, the largest single-day unlock will occur with 6.8 million Pi coins entering the market.

In the broader view, PiScan data shows 115.57 million tokens will be unlocked in April, accumulating to a total of 182 million in May and 222 million in June.

These significant unlocks could exert more downward pressure on Pi Network’s price. However, crypto expert Dr. Altcoin suggests a solution to mitigate this issue.

Dr. Altcoin proposes on X (formerly Twitter) that the Pi Core Team should consider burning between 60-100 million Pi coins in the coming days. This reduction in supply could help counter the impact of newly unlocked tokens and potentially drive the price back to the $1 mark.

The CEXs have been flooded with unlocked Pi coins, and the PTC will need to burn another 60 to 100 million coins from the circulating supply in the coming days in order to bring Pi to $1. I am now more confident that Pi is going to return to $1 soon.

DYOR! pic.twitter.com/PooqZX8SsY— Dr Altcoin (@Dr_Picoin) March 24, 2025

The total circulating supply of Pi currency was recently reduced to 6.77 billion following the removal of 10 million coins.

While some see this move as an attempt to maintain the coin’s value, others speculate that it could be a strategy for price manipulation.

Technical Analysis Provides Some Hope

Turning to technical analysis, there are some glimmers of hope for Pi investors. The cryptocurrency has formed a falling wedge pattern, which is often a sign of a bullish reversal.

Also, both the MACD indicator and the Percentage Price Oscillator show bullish divergence, suggesting that upward momentum may be returning.

If these technical signals pan out, then we could see a breakout from the falling wedge in the coming days or weeks. A successful breakout could eventually propel the price toward its all-time high of around $3.