- Pi Coin price at $0.66, needing a close above $0.66 to target $1, or risk further declines.
- 5.8 million PI tokens unlocked today and 223 million more in 30 days, increasing sell pressure.
- High circulating supply (6.9 billion tokens) and limited real-world adoption weigh on long-term upside.
5.8 Million PI Tokens Unlocked Today as 223 Million More On the Way, Upgrading Downside Risks
Pi Coin remains stuck below $0.70 even after a modest 3% intraday gain, with a surge of new unlocked tokens looking to drag prices down against poor demand.
Today witnesses the unlocking of approximately 5.8 million PI tokens from lockup, and a much greater tranche 223 million tokens. That is scheduled to become tradable within the next 30 days. This supply tsunami comes as demand enthusiasm is muted, and it may contribute to downward pressure
At about $0.66 per token, Pi is testing a key support level. A close above $0.66 could pave the way for a rebound to $1.00, according to some analysts. But if $0.66 fails, the deluge of tokens could enhance selling pressure and push prices down.
Since its exchange debut in February, Pi Coin price has experienced extreme volatility surging to highs near $3 before tumbling to roughly $0.40. Many early miners and long-term holders, particularly those active since 2019 and 2020, have been unsettled by the rapid decline.
Three primary factors underlie Pi’s struggles:
1. Selling Pressure After Unlocks
As with other airdrop tokens, Pi will see strong sell-offs when lockup periods end. Much of its base especially in Africa and Asia decides to sell token holdings for cash, putting more supply on the market.
2. Immense Token Supply
Pi has a circulating supply of over 6.9 billion tokens and a potential maximum issue of around 100 billion. That’s compared to Bitcoin’s fixed supply of 21 million. And in these conditions, the lofty target prices (such as $10 or $100) look unlikely.
3. Practical Use is Limited
Although Pi sees itself growing as a de facto digital currency, real-world adoption is limited. Fewer than a small number of merchants take PI, limiting demand fueled by actual usage.
With hundreds of millions of tokens to enter the market in the next few weeks and with no apparent catalyst for fresh buying pressure, Pi Coin’s price position is tenuous at best unless sentiment in the market changes or adoption growth picks up.
Highlighted Crypto News Today
Ethena (ENA) Breaks Resistance at $0.35, Is the 18% Rally Eyeing New Highs?
share
