Pi Network Struggles to Stay Afloat as It Witnesses a Sharp 18% Drop in Price

Pi Network is struggling as it witnessed a sharp drop of 18% in a span of just 48 hours, which wiped out its recent recovery attempt from March.

Pi Network, the cryptocurrency developed by Stanford graduates, has seen a significant setback as it witnessed a sharp drop of 18% in a span of just 48 hours.

This downturn has wiped out its recent recovery attempt from March, and with the momentum now turning bearish, investors are getting weary.

The Relative Strength Index (RSI) remains below the neutral 50 mark, which signals weak buying pressure and potential for more downturns. If this trend continues, Pi could face further losses in the days to come.

The risk of further declines is still high as the RSI is still not showing bullish signs. The Bollinger bands are also tightening which indicates that Pi Network may soon experience high volatility in price.

To worsen the situation, the broader market uncertainty is putting additional pressure on cryptocurrencies, which could aggravate the situation for Pi.

Pi Network is currently trading at $0.6085, still stuck under the $0.617 resistance after the sharp 18% drop. If the downward pressure continues, it would get difficult to breakout of the resistance level. The next key support is at $0.519, if the selling intensifies, Pi could dip below $0.500, furthering the losses and taking a toll on investor confidence.

If Pi Network can manage to reclaim the $0.617 level, then it could break free from the current bearish trend and push further to $0.710. This could shift its momentum and spark a recovery, giving investors a new hope.

Tokens Unlocks Scheduled

Notably, Pi Network is unlocking millions of tokens throughout April. On April 16, 2.8 million PI tokens were unlocked. This is part of a broader plan to unlock 108.9 million Pi tokens during April. The daily unlocks are set to continue going forward with amounts ranging from 5 to 6 million PI tokens each day.

Besides, on April 20, around 5.74 million tokens will be unlocked, followed by 5.14 million on April 21 and 5.91 million on April 22.

It is set to unlock over 1.56 billion PI tokens over the next year, with an average of 134 million tokens released each month. The biggest unlock is set to happen in December 2027 with 432.3 million tokens are set to be released. The token unlocks could affect the market by increasing supply and potentially lowering Pi’s price if the demand drops due to internal and external factors.

U.S. Expansion and Web3 Deals Fuel Hopes for Pi Network’s Breakout

While token unlocks and transparency issues have impacted investor sentiment, Pi Network is making bold moves in the U.S. It recently became an affiliate member of Stanford and entered the U.S. real estate market through its adoption by Florida-based Zito Realty. These developments have sparked speculation that major banks like JPMorgan and Bank of America may take notice.

There are estimates that if top banks start using Pi Network, the price could soar to as high as $30. The network is gaining momentum in the Web3 space with key moves like partnering with Banxa and integrating Chainlink Data Streams. Dr Altcoin has pointed out that institutional adoption could support Pi Coin’s price, however, it needs key upgrades to attract big players.

He notes that Pi’s price could drop to $0.30 or lower due to too many sellers and weak demand, but a rebound may start by late August 2025 as token unlocks slow down.

FAQs