Pi Coin Drops 50% in Two Days, Faces $234.6 Million Unlock

Pi Coin, the cryptocurrency associated with the Pi Network, has experienced significant market volatility in recent weeks. The token reached a high of $1.70 on May 13 but subsequently dropped by more than 50% in just two days. Currently, Pi Coin is attempting to maintain a price above $0.81, facing challenges due to several resistance points and upcoming token unlocks.

The market value of Pi Coin has decreased from $9 billion to $6 billion in a short period, causing it to slip from the top 20 cryptocurrencies to the 29th position. This decline is attributed to missed expectations and the pressure from upcoming token unlocks. Despite these challenges, the Pi Network recently announced a $100 million fund to support app development, which could potentially stabilize the token's price in the long term.

Experts believe that Pi Coin's recovery to previous highs of $1.50 or $1.70 will be difficult without strong positive news. However, if the project successfully attracts meaningful app development and secures listings on major exchanges like Binance or Coinbase, analysts predict that Pi Coin could reclaim the $1.50 mark by the end of the month. In an optimistic scenario, the token might even aim for $2.50 by the end of the fourth quarter of 2025.

Technical indicators for Pi Coin are currently neutral, with no strong momentum in either direction. The Relative Strength Index (RSI) is at 53.55, indicating that the token is neither oversold nor overbought. The Moving Average Convergence Divergence (MACD) shows a slight bullish trend with a "Buy" signal, suggesting potential upward momentum in the near future.

Investors are concerned about the upcoming unlocking of a large number of Pi tokens. According to Piscan data, approximately 14.6 million Pi tokens will be unlocked, which could increase selling pressure in the market. Over the next 30 days, a total of 272.9 million Pi tokens worth $234.6 million will be unlocked, with an average of 9.1 million tokens released each day. The biggest unlock is expected on May 28, when 15.1 million tokens will hit the market, potentially causing further price drops.

Pi Network has taken a significant step toward full decentralization by permanently shutting down its central coordinating node. This move removes centralized control and allows the network to operate in a more open and community-driven manner. This shift could gradually increase the demand for Pi Coin, although the impact will depend on various factors such as market conditions, adoption, and the development of functional apps on the network.