Pi Network's (PI) native cryptocurrency falls below the $1 threshold, currently trading at approximately $0.92

This downward trend comes despite some positive developments in the broader cryptocurrency market.

Pi Network’s native cryptocurrency (PI) has fallen below the $1 threshold and is now trading at approximately $0.92.

What Happened: The token has dropped about 4% in the past 24 hours and is now struggling to maintain support above the $0.95 mark. This downward trend continues despite some positive developments in the broader cryptocurrency market, which has seen prices rise in recent days.

The token has seen considerable volatility since its launch, and it has lost over 65% of its value from its all-time high of $3, which was reached earlier this year.

The token briefly touched a low of $0.911 before recovering slightly to its current price level.

One of the main factors putting pressure on Pi’s price has been the substantial token unlocks. However, recent data suggests these unlocks have decreased from 13 million tokens daily to approximately 3.8 million.

This reduction in daily token unlocks could potentially ease selling pressure. With fewer new tokens entering circulation each day, the market may have a chance to absorb the supply more effectively.

According to data from Pi Scan, nearly 99.3 million PI tokens are scheduled for unlock over the next 30 days. This amount represents approximately $91 million at current prices.

The token unlock schedule shows an average of 3 million tokens will be released daily during this period. The largest single-day unlock is set for April 3, when 6.8 million tokens will enter circulation.

Future months will see even larger unlocks, with 115.57 million tokens scheduled for April, 182 million in May, and 222 million in June. These upcoming unlocks may continue to put downward pressure on the price.

On a more positive note, Pi Network recently announced an official partnership with PiDaoSwap. This community-driven platform aims to improve the network’s governance process and increase transparency.

Other internal platforms, such as Pi News, have also joined this partnership. These collaborations are part of Pi Network’s strategy to build a more extensive ecosystem of decentralized applications.

What's Next: Some market analysts remain optimistic despite the current price difficulties. Several technical analysts suggest that PI could potentially break out of its current downward trend and move toward the $2 mark in the near term.

More ambitious predictions have also emerged within the community. Crypto analyst Dr. Altcoin, who claims to have been involved during Pi Network’s development, has suggested a much higher long-term valuation.

Dr. Altcoin proposed that Pi Network’s ultimate goal is to become an advanced stablecoin for peer-to-peer transactions. Under this vision, he suggested the token could potentially reach values above $10 as the network matures.

Even more optimistic predictions have circulated, with some suggesting a symbolic price target of $314.159, a number linked to the mathematical constant π. However, such predictions would require an extremely large market capitalization and seem highly speculative.

Some community members have suggested token burns to help stabilize the price. Pi Network recently burned 10 million tokens, reducing the total supply to 6.77 billion, although this did not significantly affect the price.

Uncertainty regarding exchange listings has also affected investor sentiment. Many community members had hoped for a listing on major exchanges like Binance, but no such announcements have been made.