Pi Coin Price Nears All-Time Low: Is There Hope for a Recovery?

Pi Network has been struggling lately, with Pi Coin's price dropping significantly. As of now, the token is facing a 18% decline over the past week, and even in just the past 24 hours, it's down 5%. Currently trading at $0.6778, it's the lowest level seen since February 25. This drop has wiped out a massive $14 billion in market cap, leaving Pi’s valuation at a fraction of its former glory.

The Growing Concerns Around Token Unlocks

One of the primary factors pushing Pi Coin's price lower is the upcoming surge in token unlocks. These unlocks, which are expected to release billions of tokens into circulation over the next year, have investors worried about inflation. The network has already unlocked a portion of its tokens, and with 124 million coins scheduled for release this month alone, the increase in supply could put further downward pressure on the price.

What’s particularly concerning is that Pi’s maximum supply is capped at 100 billion coins, and the circulating supply is already at 6.7 billion. With over 1.5 billion tokens expected to be unlocked over the next year, the potential for dilution is massive. While some cryptocurrencies use burning mechanisms to counteract this inflation, it’s unclear whether Pi has plans to adopt such a strategy. If this issue isn't addressed soon, the token’s value could continue to suffer, leaving holders in a tough spot.

The Community Is Losing Faith

Pi Network’s community used to be its greatest strength, but lately, even the most loyal users are beginning to lose faith. In a recent PiFest event, despite record participation, trading activity on the network dropped to its lowest levels in months. Many in the community have expressed dissatisfaction with the Pi Core Team's communication strategy, which has remained largely unchanged since the project’s early days. Critics argue that updates have become too predictable and fail to address the pressing concerns of the community.

Additionally, the network’s declining mining rate—down by 1.18% this month—is another sign that interest in Pi is waning. This reduction could be tied to the coin’s poor performance on exchanges, where Pi’s price struggles to gain traction. As Pi continues to trade below the 50-period moving average, it’s clear that bearish sentiment is still prevailing. Investors are holding off on buying, waiting for a significant catalyst that could change the trend.

What’s Next For The Pi Coin Price?

Pi Coin’s price has faced a tough few days, losing 18% over the past week alone. The next key support level is hovering around $0.60, and with the price under $0.70, selling pressure remains high. Trading volumes have dropped 52% to $148 million, reflecting waning investor confidence.

However, Pi Network is currently forming a falling wedge pattern, which could signal a potential bullish reversal. A breakout above $0.71-$0.72 could push the price toward the $0.75-$0.78 range, where resistance levels lie.

Looking ahead, April could bring some relief for Pi, as token unlocks will be at their lowest from now until August. Only 124.32 million tokens are set for release this month, a stark contrast to the larger unlocks expected in May and June. This reduced supply could help ease selling pressure and stabilize the price.

The token unlocks scheduled between April 7-11, releasing approximately 1.5 million tokens daily, could further influence Pi’s recovery. If the market absorbs this smaller influx without significant drops, it may boost the token's price and potentially push it back above $1. Some analysts even suggest it could rise to $3 or more, but it seems there’s a lot of ground to cover before that happens.

Conclusion

For now, Pi Coin is currently facing a tough time, and its future hangs in a delicate balance. While the upcoming lower token unlocks in April could bring some relief, the future of Pi depends on how the market handles these changes and whether the network can regain investor interest. If Pi can reduce the rate of token unlocks, boost communication with its community, and secure a major exchange listing, there might still be hope for a rebound.