Pi Network's Rocky Ride: Cycling Through Highs and Lows
Pi Network Failing to Keep Pace with Crypto Rally: Are More Difficulties Ahead?
pi network's native currency, PI, has taken a 3% hit in the last week, failing to catch the green wave sweeping the cryptocurrency market. While Bitcoin and Ethereum are soaring, PI finds itself lagging behind at around $0.61.
The past two weeks have been harsh on PI, with a 18% decline recorded. This downturn started mid-April, coinciding with the mass release of nearly 7 million tokens, followed by continuous millions more in the subsequent weeks. Data indicates that over 230 million PI will be unlocked by the end of May, with a record day of 11.3 million tokens set for April 30.
Unloading of these tokens may lead to increased selling activity and, potentially, a mass exit, given the long wait for these coins. Furthermore, the lack of new support from major crypto exchanges, such as Binance and Coinbase, could be adding fuel to the downward trend.
Optimistic forecasters, such as MOON JEFF, still predict a potential $1 price for PI. But, as he previously called Pi Network a "slow rug," it's eyebrow-raising to see him project such a bullish outlook. Kuzo, on the other hand, voiced his concerns, claiming PI "doesn't look good" based on his recent investigations. He urged investors to think twice and warned of potential massive losses in the near future.
Pi Network: Navigating Stormy Waters
- Mass token unlocks and dilution
- Limited exchange listings
- Post-launch correction
Mass Token Unlocks and Dilution
An alarming 1.6 billion PI tokens ($1.4 billion in current value) are projected to unlock within the following 12 months, risking a potential influx of supply, leading to downward pressure.
Limited Exchange Listings
Despite the presence of exchanges like Gate.io, OKX, and Bitget, the absence of industry giants Binance and Coinbase may amplify price swings due to restricted market access.
Post-launch Correction
The April drop followed an overhyped mainnet launch, as a detachment from utility and speculative trading took center stage.
Future Predictions
April 2025 Outlook
- Bull Case: If bullish momentum persists, PI may retest $0.75–$0.76.
- Bear Case: Intensified supply pressure could result in a retreat to $0.60–$0.63.
Long-term Concerns
Sustainable recovery depends on resolving liquidity issues and demonstrating real-world utility to maintain investor confidence.
Technical indicators point to cautious optimism, but PI remains at risk due to supply shocks and volatile market sentiment. In the face of these challenges, investors should exercise caution and stay informed on future developments.
- PI Network's native currency, PI, is currently at around $0.61, lagging behind Bitcoin and Ethereum despite a rising cryptocurrency market.
- The past two weeks have seen a 18% decline in PI's value, linked to the mass release of nearly 7 million tokens, with over 230 million PI set to be unlocked by the end of May.
- The unloading of these tokens could lead to increased selling activity and potential mass exit, further impacting the currency's price.
- The lack of new support from major crypto exchanges such as Binance and Coinbase could contribute to the downward trend in PI's price.
- Optimistic forecasters like MOON JEFF predict a potential $1 price for PI, but his bullish outlook raises eyebrows after labeling Pi Network a "slow rug" in the past.
- On the contrary, Kuzo warns of potential massive losses in the near future, claiming that PI "doesn't look good." Investors should consider these warnings and think twice before investing in PI.
