Pi Network Faces Biggest Token Unlock of Next 30 Days: Is a Drop to $0.65 Coming?

Pi Coin is still struggling to hold its ground in the market. After failing to hold a rally toward its old high of $3, the price once again dropped sharply. The coin recently hit $1.67 before falling back to around $0.77 at the time of writing.

When Pi Coin was first listed, it started at $3 but quickly dropped to $0.60 on the same day. It managed to bounce back to $3 within 34 days, but this rise created strong selling pressure as early investors rushed to cash out. Many saw $3 as a good exit point, especially after the coin had previously fallen more than 80%.’

In terms of important price levels, Pi Coin is currently facing immediate resistance at $0.94, $1.20, and $1.66. If the price manages to break above these levels, the final bullish target in the short term remains at $3.00. On the downside, the critical support to watch is $0.65 — if the price falls below this level, it could lead to even steeper declines ahead.

Upcoming Token Unlocks May Add More Pressure

Adding to the concerns, a large number of Pi tokens are scheduled to unlock in the coming days, which could increase selling pressure:

• May 26: 10 million Pi will unlock
  
• May 27: 12 million Pi will unlock
  
• May 28: 15 million Pi will unlock — the biggest unlock in the next 30 days

These large unlocks could add extra pressure on the price, as newly available tokens might be sold on the market.

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Positive Developments in the Pi Ecosystem

Despite the price struggles, the Pi Network ecosystem is growing fast. According to analyst Kim Wong, there are now over 100 Pi-based decentralized apps (DApps), with some already live on the Mainnet, some being tested, and others still in development.

Adding to the excitement, the recent launch of a $100 million Venture Fund is expected to help the growth of the Pi ecosystem even further. As more apps go live and adoption increases worldwide, Pi’s long-term potential continues to look bright.

The network now boasts over 70 million users globally, including 20 million KYC-verified users and 4.3 million X (Twitter) followers. Pi Coin is also listed on several exchanges and ranks #26 by market cap among all cryptocurrencies.

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