Pi Network Coin Drops Over 8% Amid $480 Million Unlock—Short-Term Pullback or Deeper Decline?

The Pi Network Coin price has taken a significant hit, dropping by over 8.6% in a single day. This sharp decline follows a massive $480 million Pi token unlock, which has raised concerns about increased selling pressure.

As of today, the Pi Network price stands at around $1.80, marking a notable drop from its recent peak of $2.94. Market participants are closely monitoring the situation, anticipating further volatility in the Pi Network trading landscape.

$480 Million Pi Coin Unlock Raises Concerns

The recent Pi crypto unlock has introduced many tokens into the market, which may still cause the Pi crypto price to fall. Blockchain monitor Piscan.io shows an average of 8.94 million Pi Coins are unlocked daily, valued at approximately $17.89 million. However, on March 17, the number to be unlocked will jump to 23.13 million Pi Coins, which is equivalent to approximately $46.27 million.

Around 268.48 million Pi Coins worth $478.79 million will unlock in 30 days, raising concerns over increased selling pressure and price impact. Source PiScan

Besides, approximately 268.48 million Pi tokens worth about $478.79 million are expected to be released over the next 30 days. The high rise in the supply of this magnitude will make the investors wary of how the Pi Coin market and Pi currency value might be impacted. Unless the selling pressure abates, Pi Network Coin price can have a hard time regaining its bullish trend.

Pi Network Community Awaits Key Announcements

Despite the growing concerns surrounding the token unlock, the Pi Network community remains hopeful as Pi Day approaches on March 14. Many investors anticipate that this event could bring major announcements related to Pi Network exchange listings and ecosystem developments.

The Pi Core Team’s project began on Pi Day, March 14, 2019, and its six-year milestone in 2025 could be historic if the Open Network launches that day. Source: Pi News via X

Speculation about a potential Pi Coin exchange listing on Binance has also intensified. A cryptic social media post from Binance has fueled speculation, with many Pi Network enthusiasts believing that the leading exchange may finally list the token. If confirmed, a Pi Network Binance listing could provide a significant boost to Pi crypto value and strengthen market confidence.

Will Pi Coin Recover? Market Outlook and Predictions

Pi Network trading activity suggests that investors are waiting for confirmation of key developments before making further moves. Analysts believe that if the Pi cryptocurrency value can break above the $1.90 resistance level with strong volume, a rally toward $3 or higher could follow. On the other hand, failure to hold major support levels could witness more drops, potentially sending Pi Network price in terms of dollars even lower.

Pi Network Coin price could retest the $1.75 support before rebounding toward the $2 resistance. Source: Odinsloyaltyproducts on TradingView

Some long-term predictions estimate that if Pi Network keeps building out its ecosystem and gets adopted massively, then Pi Coin value may surpass $500 by 2030. There is, however, short-term uncertainty, particularly with the imminent unlock event and how it could affect the market.

Looking Ahead: Pi Network Faces a Pivotal Moment

The current Pi Network market conditions remain uncertain as the massive token unlock looms. While Pi Network news surrounding potential exchange listings and ecosystem expansion provides optimism, the risk of further declines remains. Investors must keep a watchful eye on future events, including Pi Day announcements and Binance listing confirmations, which are likely to determine the future direction of Pi cryptocurrency value.

As the market is soaking up the impact of the unlock, traders must carefully monitor the trade situation of Pi Coin, deciding whether to buy Pi Network Coin or beware of further downside risks. With market volatility expected to persist, Pi Coin news and price movements will be key focal points in the coming days.