Why is Pi Network (PI) Price Plummeting Despite Crypto Market Improvement?

Jakarta, Pintu News – Amidst a general crypto market recovery, the Pi Network (PI) price has decreased, now at $0.92 after falling 4% in a day.

This drop is even deeper compared to this year’s peak price of $3, which represented a drop of more than 65%.

Various factors contributed to this decline, including increased supply pressure and uncertainty around listing on major crypto exchanges.

Main Causes of Price Decline

One of the main causes of the Pi Network (PI) price drop is the increase in the number of tokens in circulation. According to data from Pi Scan, approximately 99.3 million Pi Network (PI) tokens, worth approximately $91 million, are scheduled to be unlocked in the next 30 days.

On average, 3 million tokens will be opened each day during the period, with the largest opening on April 3, which will put 6.8 million tokens into circulation.

This large token opening is expected to continue, with 115.57 million tokens in April, 182 million in May, and 222 million in June. This may create greater selling pressure, affecting market prices.

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Concerns Over Centralization and Exchange Listing

Uncertainty regarding listing on major crypto exchanges such as Binance has also affected investor sentiment. Hopes for the listing have not materialized, leading to disappointment among investors.

Concerns exist regarding centralization within the Pi Network (PI). Unlike other blockchains, which run nodes independently, the Pi Core Team controls the Pi SuperNodes.

Although the number of SuperNodes has grown from three to 42, it is unclear how these nodes were selected. This raises questions about transparency and decentralization in the network.

Also read: 4 Crypto to Watch After US Stock Market Adds $1.5 Trillion!

Technical Analysis and Future Outlook

On the technical front, Pi Network (PI) is trading at $0.9253 and showing a weak trend. Technical support costs $0.70, while $1.00 is an impenetrable resistance. The Bollinger Bands indicator shows that sellers are controlling price fluctuations, and the Relative Strength Index (RSI) at 43.27 indicates a bearish trend.

If the price falls below $0.85, Pi Network (PI) may drop to the $0.70 range. However, if the price breaks above $1.00, the momentum could change to the next target at $1.34. For now, the condition of Pi Network (PI) is still weak unless there is a strong push from buyers.

Conclusion

With the various challenges faced, Pi Network (PI) needs an effective strategy to overcome market pressures and increase investor confidence. Additional token burns and increased transparency in the network’s management could be important steps to restoring the token’s value in the future.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. Why Is Pi Network Price Down Despite Crypto Market Recovery. Accessed on March 26, 2025
• Featured Image: Coinpedia