Pi Network Crashes 18% in 48 Hours; Further Decline Likely Amid Market Pressure

The post Pi Network Crashes 18% in 48 Hours; Further Decline Likely Amid Market Pressure appeared first on Coinpedia Fintech News

Pi Network is struggling as it witnessed a sharp drop of 18% in a span of just 48 hours, which wiped out its recent recovery attempt from March. Investors are again getting weary as the momentum has turned bearish. The RSI remains below the neutral 50 mark which signals weak buying pressure and potential for more downturns. If the trend continues, Pi could face further losses in the days to come. 

The risk of further declines remains high as the RSI is still not showing bullish signs. The Bollinger bands are also tightening which indicates that Pi Network may soon experience high volatility in price. The broader market uncertainty is further aggravating the situation.

Pi Network is currently trading at $0.6085 still stuck under the $0.617 resistance after the sharp 18% drop. If the downward pressure continues, it would get difficult to break out of the resistance level. The next key support is at $0.519, if the selling intensifies, Pi could dip below $0.500 furthering the losses and taking a toll on investor confidence.

If Pi Network can manage to reclaim the $0.617 level, then it could break free from the current bearish trend and push further to $0.710. This could shift its momentum and spark a recovery giving investors a new hope.

Tokens Unlocks Scheduled

Notably, Pi Network is unlocking millions of tokens throughout April. On April 16, 2.8 million PI tokens were unlocked. This is part of a broader plan to unlock 108.9 million Pi tokens during April. 

The daily unlocks are set to continue going forward with amounts ranging from 5 to 6 million PI tokens each day. Besides, on April 20, around 5.74 million tokens will be unlocked, followed by 5.14 million on April 21 and 5.91 million on April 22.

It is set to unlock over 1.56 billion PI tokens over the next year, with an average of 134 million tokens released each month. The biggest unlock is set to happen in December 2027 with 432.3 million tokens are set to released. The token unlocks could affect the market by increasing supply and potentially lowering Pi’s price if the demand drops due to internal and external factors. 

U.S. Expansion and Web3 Deals Fuel Hopes for Pi Network’s Breakout

While token unlocks and transparency issues have impacted investor sentiment, Pi Network is making bold moves in the U.S. It recently became an affiliate member of Stanford and entered the U.S. real estate market through its adoption by Florida-based Zito Realty. These developments have sparked speculation that major banks like JPMorgan and Bank of America may take notice.

There are estimates that if top banks start using Pi Network, the price could soar to as high as $30. The network is gaining momentum in the Web3 space with key moves like partnering with Banxa and integrating Chainlink Data Streams. Dr Altcoin has pointed out that institutional adoption could support Pi Coin’s price, provided, it needs key upgrades to attract big players.

He notes that Pi’s price could drop to $0.30 or lower due to too many sellers and weak demand, but a rebound may start by late August 2025 as token unlocks slow down.