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Why is Pi Coin Price Dropping Today?

Published by
Anjali Belgaumkar

Pi Coin has fallen more than 9%, currently trading at $0.83. The price drop continues to concern investors, as Pi’s value keeps slipping. Over the past few days, Pi has fallen below major moving averages, and its price is sitting under $0.85. At this point, it’s important to understand that when projects like Pi launch, there’s a lot of speculation, and the market can react strongly to both positive and negative news. 

Key Reasons Behind Pi Coin’s Decline

Pi Coin’s current price of $0.83 is just below previous resistance levels of $0.85 to $0.86 and it could potentially drop as low as $0.70. As explained by an analyst, here are several factors are contributing to the drop in Pi’s price:

Market Uncertainty: Broader market conditions, particularly the Federal Open Market Committee (FOMC) meeting, have led to market uncertainty, affecting Pi’s price.

Token Supply Concerns: Pi’s total supply is set at 100 billion coins, with only 6.84 billion in circulation so far. There have been concerns about the potential for large-scale releases of tokens, which could put further downward pressure on prices.

Token Unlocks: Over the next 30 days, 99.3 million Pi tokens are expected to be unlocked, which could create additional selling pressure. The biggest unlock is scheduled for April 3rd, with 6.8 million tokens being released.

Will Pi Coin Recover?

Furthermore, Pi investors were hoping for a listing on Binance after receiving 87.1% community approval. However, Binance has not made any official announcements, causing frustration and panic selling among some investors. Despite these challenges, experts remain positive about Pi’s recovery. A listing on Binance, a large-scale token burn, and improvements in the Pi ecosystem could all help stabilize the price. 

FAQs

Why is Pi Coin dropping in price?

Pi Coin’s price is falling due to market uncertainty, token unlocks, supply concerns, and lack of a Binance listing announcement.

Will Pi Coin recover soon?

Pi could recover if Binance lists it, a token burn happens, or ecosystem growth improves, but selling pressure remains a key risk.

Is Pi Coin getting listed on Binance?

Despite 87.1% community approval, Binance has not confirmed a Pi Coin listing, causing uncertainty among investors.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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