TL;DR
- Since its launch, Pi Network’s PI token has stirred controversy within the crypto community, recently experiencing a significant price drop after its initial peaks.
- Nevertheless, certain aspects of its tokenomics and technical analysis suggest a potential price reversal on the horizon.
After years of development, the much-anticipated release of Pi Network’s Open Network and native token occurred on February 20. The token’s initial trading days were marked by extreme volatility, witnessing swings from a high of $3 to lows of $0.7. Yet, despite this early excitement, PI has seen a significant downturn, dropping over 30% on a weekly basis and falling to the 26th position in the cryptocurrency market rankings, after once coming close to breaking into the top 10.
As discussed in a recent report, the potential for price recovery may hinge on new strategic partnerships. However, additional indicators propose that positive shifts may be imminent. A Pi Network-associated group from Vietnam disclosed that the recent price decline correlates with a surge in unlocked PI tokens early in the project’s existence. Currently, the supply has decreased from 7.2 billion to 6.7 billion tokens.
Moreover, it was noted that the actual circulating supply stood at approximately 1.7 billion, largely due to many users not completing essential verification steps, leaving around 5 billion tokens still locked. The predictions indicate a substantial reduction in unlocked tokens moving forward, expected to decrease from 13 million PI per day to just 3.8 million per day.
If this trend continues alongside steady or rising demand, we could witness a gradual recovery in PI’s price. Additionally, an analyst on X has pointed out that the PI/USDT trading pair is currently trapped within a descending channel, characterized by repeated rejections at the upper trendline and robust support at the lower edge. A breakout from this pattern, coupled with notable bullish momentum, could signify a turning point for PI.
It is noteworthy that previous resistance levels may have already transformed into support, reinforcing optimistic outlooks that could potentially drive the price back to $2 in the near future.
#PI Analysis: The PI/USDT pair has been confined within a falling channel, facing repeated rejections at the upper trendline while finding strong support at the lower edge. Recent price action indicated a breakout from this descending channel with notable momentum, hinting at a… pic.twitter.com/6UZEzqfskj
— Andrew Griffiths (@AndrewGriUK) March 22, 2025
The insights provided, along with the observed technical patterns, position Pi Network’s token at a critical juncture. Market watchers and investors alike should remain attentive to forthcoming developments, as the trajectory of PI’s value could shift significantly in the weeks ahead.
The post Is Pi Network’s PI Token About to Explode? 2 Key Signs Point to a Trend Reversal appeared first on CryptoPotato.
