Is Pi Network’s Price About to Take Another Dive? 🤔📉

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TL;DR

  • PI continues its downward spiral, with the looming threat of a deeper plunge as exchange balances swell by millions of coins.

  • The pressure mounts with 18.2 million PI tokens set to unlock today, adding to the bearish sentiment.

Another Crash on the Horizon?

The cryptocurrency market has been a veritable carnival of gains over the past week, with leading digital assets riding the wave of optimism. Alas, Pi Network (PI) seems to have missed the memo, continuing its melancholic descent into the abyss.

At the time of writing, PI is trading at a modest $0.48, marking a 13% decline over the week and a 26% nosedive over the past month. A veritable triumph of gloom and doom, one might say.

While PI enthusiasts and die-hard supporters cling to the hope that the downturn will soon be a distant memory, certain indicators suggest that the worst may be yet to come. For instance, the number of tokens stored on centralized exchanges has surged by over six million in the last 24 hours. A staggering 366 million PI are now held on these platforms, with a USD value of approximately $177 million.

The increased supply on exchanges, while not a definitive sign of an impending sell-off, certainly adds to the bearish sentiment. It’s like inviting a bear to a picnic and hoping it won’t eat all the sandwiches.

Not the Only Factor to Watch

The upcoming token unlocks are another cloud on the horizon. A record 18.2 million PI tokens are scheduled for release today, giving holders the opportunity to part ways with their long-awaited coins. The unlocks will remain high until mid-July, after which the pressure might ease off, or so we hope.

It’s worth noting that the release of PI tokens accelerated last month, leading to renewed selling pressure. The price of the asset plummeted to just under $0.40 on June 13, coinciding with the geopolitical tension caused by the military conflict between Iran and Israel. One X user, ever the optimist, commented:

Is $PI powered by Iranian nuclear facilities? It dipped from 0.62 to 0.4 in one minute. But it is already recovering. Bullish for $PI. #PiNetwork

— MOON JEFF (@CRYPTOAD00) June 13, 2025

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2025-07-04 16:17