2025-3-25 12:40 |
Pi Network (PI) token price has plunged over 40% in a month, contrary to post-mainnet hopes. Upcoming $91M token unlock to flood market, worsening sell pressure. The Pi Network team has rolled out updates to boost the ecosystem, aiming to counter market woes.
PI, the native token of Pi Network, has been on a free fall over the past month, losing over 40% contrary to what the majority expected, especially after the mainnet launch.
This steep decline has caught investors off guard, particularly as the broader cryptocurrency market shows tentative signs of recovery.
Unfortunately, the Pi Network, celebrated for its unique mobile mining model that allows users to mine tokens via smartphones, has struggled to translate its innovative vision into sustained market value.
A disappointing post-mainnet performanceThe launch of the Pi Network mainnet was anticipated as a turning point for PI, with many expecting it to bolster the token’s credibility and price.
Instead, the token has plummeted from a high of $2.99 in February 2025 to $0.9287 by March 25, 2025—a staggering 68.9% drop.
This downturn stands in stark contrast to the optimism that once surrounded the project, fueled by its promise of accessibility and a growing user base.
Analysts point to persistent supply pressures and a lack of clarity on major exchange listings as key contributors to this disappointing trajectory.
The looming PI token unlock challengeAdding to the market’s unease is an imminent token unlock set to release 99.3 million PI tokens over the next 30 days, valued at roughly $91 million at current prices. This translates to an average of 3 million tokens flooding the market daily, with a peak unlock of 6.8 million tokens scheduled for April 3, 2025.
Such a significant influx is likely to intensify selling pressure, threatening to push PI’s price even lower.
Looking further ahead, additional unlocks in April, May, and June—totalling 115.57 million, 182 million, and 222 million tokens respectively—cast a long shadow over the token’s near-term stability.
Technical signals point to more bearish trendsOn the technical front, PI’s current price of $0.9287 hovers near critical levels.
Notably, the immediate support lies at $0.70, while the resistance looms at $1.00.
The Bollinger Bands reveal a market dominated by sellers, with the price clinging to the lower band.
The Relative Strength Index (RSI) on the 4-hour chart, sitting at 35.87, underscores a bearish outlook though near the oversold territory.
In addition, both moving averages and the Moving Average Convergence Divergence (MACD) reinforce this downward momentum.
A drop below $0.85 could see PI testing $0.70, though a breakout above $1.00 might spark a rally toward $1.34.
Pi Network team’s efforts to bolster the ecosystemAmid these challenges, the Pi Network team has not remained idle. A recent update allows PI holders to view their tokens within an official Telegram wallet, albeit with limited features for now.
🚨 BREAKING: You can now see $PI in Telegram's official wallet 🚀
⚠️Condition:
• You can only buy, sell, or store $PI in the wallet.
• You will not be able to send $PI to your Telegram contacts, withdraw it to an external wallet, or receive it from anyone. ❌#PiNetwork pic.twitter.com/z0jI2dWqlL
— Pi News (@PiNewsMedia) March 25, 2025
The team also extended the PiNet migration grace period to May 28, 2025, giving developers more time to secure domains without competitive bidding.
These moves, though yet to bear fruits, signal an intent to enhance accessibility and encourage developer involvement, potentially laying the groundwork for a stronger ecosystem despite the current market turmoil.
The post Upcoming $91M token unlock adds to Pi Network market woes appeared first on CoinJournal.
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