The crypto market is showing signs of recovery, but Pi Coin continues to struggle. Over the past month, the price of PI has dropped by 26%, currently trading around $0.5786, down 6% in the last 24 hours. Its weak performance has shaken the investor’s confidence as it shows fewer signs of a rebound.
Pi Network’s -0.11 correlation with Bitcoin is adding to the concerns, as it tends to decline when Bitcoin rises. Even with Bitcoin approaching $100,000 and the broader market rallying, Pi Coin may continue to face further setbacks.
10 Million Tokens Unlocked Today
Today, Pi Network unlocked 10.1 million PI tokens. 11.22 million tokens are 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.
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.
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.
Analysts Bullish Despite Price Drop
Despite ongoing token unlocks and recent price drops, analysts think Pi Network (PI) could reach $5, driven by growth in its ecosystem and better market conditions.
Some analysts suggest that 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.
