Pi Coin is on a steep decline, and the downturn isn’t slowing down. Once seen as a potential top 10 altcoin, it has now fallen to the 30th spot, hitting a new low of $0.77 in the last 24 hours. That’s a massive 70% drop from last month’s peak and nearly 20% in just a week.
Right now, Pi is struggling to hold the $0.8 level, and analysts are not optimistic. Crypto traders warn that if the price slips further, it could fall to $0.6, which is the last key support before a deeper crash. Investors who were hoping for a rebound are now facing growing uncertainty.
To make things worse, Pi Network is about to release a huge wave of tokens into the market. According to data from PiScan, over 105.96 million Pi Coins worth around $85 million will be unlocked in the next 30 days. The biggest release is set for April 3, when 6.8 million tokens will flood the market in a single day.
Over the next year, a whopping 1.6 billion Pi Coins are set to hit the market. If major exchanges don’t start listing it or demand doesn’t pick up, this huge influx of new tokens might drive prices down even more.
Pi’s trading volume has dropped 54.46% in just one day, showing that investors are losing interest quickly. Its market cap has fallen to $5.62 billion, a big drop from where it used to be.
Even though some traders are still holding out hope for a recovery, the combination of slipping prices, an influx of new tokens, and weaker demand suggests that Pi Coin might face a rough patch before any recovery takes shape.
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