Pi Network Plummets 18.04% as 6.8M Coins Flood Market

The price of Pi Network experienced a significant drop of 18.04% in a single day, reaching $0.6110. This sharp decline was attributed to the daily unlocking of 6.8 million Pi coins, which flooded the market and created an oversupply situation. The excessive supply of Pi coins put downward pressure on the price, leading to a total circulating supply of 6.88 billion Pi.

According to Dr. Altcoin, the market is currently dominated by sellers, which has contributed to the price decline. The expert analysis suggests that the value of Pi Network could drop below $0.3 by the end of the year if the current market conditions persist. However, there is a possibility of a rebound as late as August 2025, when the rate of Pi unlocking is expected to decrease, stabilizing the market.

Several factors have been cited for the ongoing price decline of Pi Network. The daily unlocking of 6.8 million Pi coins has created an oversupply, which has put downward pressure on the price. Additionally, market manipulation by some exchanges has been suggested as a potential cause of the price drop. Inconsistent trading volumes were pointed out as evidence of artificial price suppression.

Dr. Altcoin's analysis also highlighted a lack of substantial interest in purchasing Pi Network, which has contributed to the bearish trend. This observation is consistent with the monthly decline of 46.28%, indicating that the oversupply problem has been a long-standing issue for the Pi Network. The market cap of Pi Network is currently around $4.3 billion, making it one of the top 50 cryptocurrencies. The fully diluted valuation (FDV) of the token suggests that the market cap would reach $6.2 billion if all 100 billion Pi tokens were sold.

To stabilize the price of Pi Network, several strategies have been proposed. One option is to expand the token's reach by increasing the number of Know Your Business (KYB) approved centralized exchanges (CEXs). Another potential solution is to increase Pi's user base and demand by expanding its access to restricted markets. The involvement of big-league institutions, such as corporations acquiring a significant number of Pi coins directly from centralized exchanges, could also help counterbalance oversupply pressures and stabilize the market value.

Major updates from the Pi Core Team, such as announcements or product launches that increase Pi's utility, could also play a role in reversing the demand and utility of Pi Network. However, some users remain optimistic about the future of Pi Network, believing that the price will skyrocket once the current selling pressure subsides.