Pi Coin Drops 6% as 10.1 Million Tokens Unlock

Generated by AI AgentCoin World
Tuesday, Apr 29, 2025 7:49 am ET1min read
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Pi Coin, a cryptocurrency that has been struggling in the market, saw a 6% drop in its price today, following the unlocking of 10.1 million tokens. This event has further shaken investor confidence, as the coin has already experienced a 26% decline over the past month, currently trading around $0.5786. The weak performance of

Pi
Coin is particularly concerning given its -0.11 correlation with Bitcoin, which tends to decline when Bitcoin rises. Despite Bitcoin approaching $100,000 and the broader market rallying, Pi Coin may continue to face further setbacks.

Today's token unlock is part of a larger trend, with 11.22 million tokens scheduled to be unlocked tomorrow, April 30, marking the largest release this month. In total, over 100 million tokens were unlocked in April, contributing to an 80% price drop from its February high of $2.98. The unlocks are set to nearly double in May, with 197 million tokens expected to be released. This surge in supply could intensify selling pressure on Pi Network’s price.

Looking ahead, 1.56 billion PI tokens will be unlocked over the next year, around 134 million each month. The largest unlock will be in December 2027 with 432.3 million tokens. This could affect PI’s price by increasing supply, especially if demand goes down.

Pi Network
needs a long-term solution to manage this pressure.

Despite the ongoing token unlocks and recent price drops, analysts remain bullish on Pi Network. Some analysts think Pi Network (PI) could reach $5, driven by growth in its ecosystem and better market conditions. According to the analyst's forecast, Pi Network could reach $3 by June if market conditions remain favorable. This depends on key developments, including rumors of possible token burns to reduce its supply. However, its supply concerns and especially the upcoming token unlocks could limit its potential.

Analyst Dr. Altcoin thinks Pi Network’s price could start rising in mid-May, particularly during the Consensus Summit from May 14-16, 2025. This optimism is based on the potential for positive developments and increased market attention during the event. However, it remains to be seen whether these predictions will materialize, given the current market conditions and the challenges faced by Pi Coin.