Pi Network is about to face the largest token unlock in the next 30 days: Will the price fall to $0.65?

Pi Coin is currently facing challenges in maintaining its position in the market. After failing to hold the upward momentum of the previous high of 3 dollars, the price has fallen sharply. Recently, this coin reached a level of 1.67 dollars before returning to around 0.77 dollars at the time of writing.

When it was first listed on the exchange, Pi Coin started at $3 but quickly fell to $0.60 on the same day. It recovered to $3 within 34 days; however, this growth created strong selling pressure as early investors sought to withdraw their funds. Many viewed the $3 level as an ideal exit point, especially after the price had decreased by more than 80%.

Important price level

Regarding important price levels, Pi Coin is currently facing immediate resistance at levels of $0.94, $1.20, and $1.66.

! Will the price drop to $0.65?Pi Price Chart | Source: Bitcoin MagazineIf the price can break through these levels, the final short-term growth target remains $3.00. On the contrary, the key support level to watch is $0.65 — if the price drops below this level, it is likely to lead to further declines.

Pressure from the upcoming token unlock

In addition to the concerns, a large amount of Pi tokens is expected to be unlocked in the coming days, which could increase selling pressure:

These unlocks may create additional pressure on the price, as the new Pi may be sold on the market.

Positive development in the pi ecosystem

Despite the difficult pricing, the Pi Network ecosystem is thriving. According to analyst Kim Wong, there are currently over 100 decentralized (DApps) based on Pi, with some already operating on Mainnet, some in the testing phase, and others still under development.

Notably, the recent launch of the $100 million Investment Fund is expected to further boost the development of the Pi ecosystem. As more applications go live and adoption increases globally, the long-term potential of Pi continues to look bright.

Currently, the network has attracted over 70 million users globally, including 20 million KYC-verified users and 4.3 million followers on X. Pi Coin is also listed on many exchanges and ranks 26th by market capitalization among all cryptocurrencies.

Mr. Giáo