Pi Network and the Major Token Lockup Issue
Pi Coin is currently struggling to maintain its market position. After failing to sustain a price increase to the previous high of $3, the price has dropped significantly. Recently, Pi Coin reached $1.67 before declining to around $0.77.
Initially, Pi Coin was listed at $3 but quickly dropped to $0.60 on the same day. After 34 days, it recovered to $3, creating significant selling pressure as early investors quickly took profits. Many viewed $3 as an ideal exit point, especially after the coin had previously dropped by over 80%.
Important Resistance and Support Levels
Pi Coin is currently facing resistance at $0.94, $1.20, and $1.66. If it can break through these levels, the short-term price target remains $3. Conversely, the critical support level to watch is $0.65 — if the price drops below this, it could lead to deeper declines.
Upcoming Token Lockup Pressure
In addition to concerns, a large number of Pi Tokens are about to be unlocked, potentially increasing selling pressure:
- May 26: 10 million Pi will be unlocked
- May 27: 12 million Pi will be unlocked
- May 28: 15 million Pi will be unlocked — the largest unlock in the next 30 days
These large unlock periods could increase selling pressure as new Tokens become available in the market.
Positive Development in the Pi Ecosystem
Despite price challenges, the Pi Network ecosystem is developing rapidly. According to analyst Kim Wong, there are over 100 decentralized applications (DApps) based on Pi, with some already operating on Mainnet, others testing and developing.
Adding to its attractiveness, the newly launched $100 million investment fund is expected to further boost the development of the Pi ecosystem. As more applications become operational and global acceptance increases, Pi's long-term potential remains promising.
The network currently has over 70 million global users, including 20 million verified identities (KYC) and 4.3 million Watchers on X (Twitter). Pi Coin is also listed on several exchanges and ranks 26th by market capital among all cryptocurrencies.
