Pi Network (PI) Coin Price Prediction: Will PI Break Resistance and Reach $0.60?

Pi Coin is currently trading at $0.59, struggling to break above the key resistance level of $0.60. The cryptocurrency has experienced a steep decline

Pi Coin, the cryptocurrency developed by the Pi Network project, has seen its price drop sharply in recent days, falling more than 30% in the last two weeks. The price pressure comes as a massive token unlock continues to unfold across the Pi Network ecosystem.

According to data from PiScan, more than 119 million Pi tokens are expected to enter circulation this month alone. On April 11, 1.4 million tokens were unlocked in a single day. The remaining tokens will be released gradually throughout the rest of the month.

These large-scale unlocks are flooding the market with new supply at a time when demand appears to be weakening.

Community Backlash Grows

As prices tumble, discontent within the Pi Network community has reached new heights. Pi Network Turkey, the project’s largest community group in the region, recently issued a strong statement criticizing the core team’s handling of the project.

The group accused Pi Network developers of adopting a top-down management style that ignores community feedback. They also claimed the project is straying from its original decentralized vision.

“What we once eagerly anticipated has now turned into disappointment,” the statement read.

The Turkish community highlighted several concerns, including broken promises, lack of transparency, and indefinite delays to the Open Mainnet launch.

They also pointed to unclear financials and vague details on partnerships. The actual number of live decentralized applications (dApps) on the network remains unclear.

Some analysts believe the sharp decline in Pi’s value stems not only from token unlocks but also from growing skepticism about the project’s long-term vision and deliverables.

As concerns mount over whether Pi Network is truly building a meaningful Web3 ecosystem, the project’s credibility appears to be at risk.

Token Burn Strategy Proposed

A potential solution has emerged in the form of a token burn strategy, which could help address the oversupply issues plaguing Pi Network.

Token burning is a familiar approach in cryptocurrency markets: reducing supply to create scarcity, which can potentially stabilize or raise prices.

For Pi Network, which minted billions of tokens early in its development, the supply glut represents a core problem that needs addressing.

Several burn mechanisms have been proposed, including periodic burns, burns tied to mining or transaction activity, and community-initiated burns that reward participation.

If implemented correctly, such a strategy could embed scarcity into the system and reset market expectations for Pi Coin.

However, challenges remain for any potential burn strategy. Pi Coin isn’t widely tradable, and without significant exchange listings, even a large burn could have limited near-term effects on price.

The 1-hour PI/USDT chart shows a turbulent decline followed by consolidation within major resistance and support areas. Pi price found support in the $0.43-$0.46 range after a sharp fall, indicating a local bottom before bouncing.

Currently, Pi is trading at around $0.5974, with the Relative Strength Index (RSI) at 57.06, suggesting momentum is beginning to lean bullish.

A successful burn strategy could signal a shift toward a deflationary model, potentially rebuilding trust and inviting investor interest.