Pi Network's Cryptocurrency Has Fallen Below the Critical $1 Support Level

Pi Network's cryptocurrency has fallen below the critical $1 support level. The token is currently trading at $0.9432, representing a 6.3% decline in the last 24 hours.

Pi Network's cryptocurrency has fallen below the critical $1 support level as token unlocks continue to exert selling pressure.

What Happened: The price of Pi fell to $0.9432 by Thursday morning, representing a 6.3% decrease in the last 24 hours. The token had briefly risen above $1 earlier in the day, reaching a high of $1.01. However, sellers quickly stepped in, pushing the price down to a low of $0.9109.

The token is now trading at $0.93, with a 24-hour trading volume of $284.36 million, increasing by 12%. The majority of traders are sellers, with a sell/buy ratio of 2.87.

The digital asset is facing multiple headwinds, with an absence of positive market catalysts and major cryptocurrency exchange Binance not confirming a potential listing of the token.

The upcoming token unlocks are also putting pressure on the PI price. According to market data, approximately 97.65 million Pi tokens, currently valued at about $93 million, will be unlocked over the next 30 days. This equals an average daily unlock of 3.25 million tokens.

The largest single-day unlock will occur on April 3, with 6.8 million PI tokens entering circulation. These figures are from PiScan data, which shows even larger unlocks on the horizon, with April set to see 115.57 million tokens unlocked, followed by 182 million in May and 222 million in June.

This indicates a steady increase in circulating supply, which naturally creates selling pressure as more tokens become available for trading, decreasing prices unless there is commensurately increasing demand.

Cryptocurrency analyst Dr. Altcoin has suggested a potential solution to help the price recover to the $1 mark. On X, the analyst proposed that the Pi Core Team should burn between 60-100 million coins in the coming days.

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 back 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

Token burning is a common practice in cryptocurrency markets, where coins are permanently removed from circulation to create scarcity that can support price stability.

It remains to be seen if the Pi Core Team will implement such measures.

The unlock rate is expected to decrease significantly, with daily unlocks dropping from the current 13 million PI to approximately 3.8 million. This decrease could lessen selling pressure and allow the price to stabilize.

The absence of major exchange listings is also limiting Pi Network's growth potential. Binance, the world's largest cryptocurrency exchange, has not yet added PI to its trading platform. This lack of institutional support has dampened investor confidence.

According to analysis from Dr. Altcoin, transparency issues may be hindering exchange listings. The analyst expressed concerns about the locking and burning mechanism of billions of Pi coins held by the Pi Core Team, which could be causing regulatory hesitations.

Some community members speculate that listing fees may be another obstacle, as major exchanges typically charge substantial fees for token listings, which the Pi Core Team may be unwilling to pay. Others suggest that Pi Network's sell restrictions and potential market manipulation concerns are preventing listings on platforms like Binance and Bybit.

The total circulating supply of Pi currency was recently reduced to 6.77 billion following the removal of 10 million coins. While some investors see this as a positive step to maintain value, others worry that without clear communication, such actions could appear as market manipulation.

Past data shows that previous token unlocks triggered significant price declines, forming a clear pattern that has made investors cautious about future market movements.

The value of Pi Coin has fallen sharply from its all-time high of $2.98, which was reached in February.

Recent partnerships may provide some support for the token's value. Pi Network highlighted a collaboration with PiDaoSwap, aiming to enhance transparency and governance within the ecosystem.

This community-driven project, featuring 100% DAO governance and a decentralized exchange, is designed to foster a more open and efficient Web3 ecosystem.

Such developments, combined with the upcoming reduction in token unlocks, might create a more sustainable trading environment. If demand increases, a price recovery could follow. However, this would likely require improved market sentiment and greater transparency from the Pi Core Team.

Technical analysts have identified key resistance levels that PI must break to resume an upward trend. Some suggest that if Pi breaks out of its descending channel with strong momentum