Top experts predict that the price of Pi Network will drop to $0.60 due to a large number of tokens unlocking, but technical trends suggest that Pi Coin may experience a breakout in the future.
In the context of growing community concerns, the price of Pi Network has continued to decline, falling below the $0.80 mark. A series of factors seem to influence investor sentiment, and recent trends and analyses indicate that the price will further drop to around $0.60. However, despite this, experts remain optimistic about the long-term trajectory of Pi Coin.
Pi Network price drops 3%: what does the future hold?
The price of Pi has dropped about 3% today, trading at $0.79, while the trading volume in the past 24 hours increased by 33% to $327 million. Notably, the cryptocurrency hit a 24-hour low of $0.77 since yesterday, indicating a bearish market sentiment. It is worth noting that an article highlighted the main reasons for the recent drop in Pi's price.
In this situation, market observers expect further declines in the future, with some experts even predicting a drop to $0.60. Nevertheless, market observers remain bullish, suggesting that a breakout may occur in the future.
Will Pi Coin drop to $0.60?
Many market experts anticipate that the price of Pi Network will further decline due to the large number of tokens unlocking in the future. According to data from PiScan, a total of 105.96 million Pi will be unlocked in the next 30 days, valued at approximately $85 million at current prices. The average daily unlocking volume is about 3.5 million tokens.
Such a massive influx could severely dampen investor sentiment. Additionally, the Pi Core team's lack of a clear stance further exacerbates concerns. On the other hand, the absence of listings on leading cryptocurrency exchanges, such as Binance, which many have been anticipating, also affects investor sentiment.
Furthermore, looking ahead to the next 12 months, 1.6 billion Pi coins will be unlocked, averaging 129 million per month. This trend is expected to continue until May 2028, with little change. To mitigate this potential price drop, Pi enthusiasts urge the Pi Core team to implement measures to reduce circulation, such as burning mechanisms or smart contract functions.
Experts predict a drop to $0.60: what’s the next step for Pi Network?
TradingView analyst bullstraders7 pointed out that the price of Pi Network may drop to $0.61 or even $0.60 in the coming days. This further dampens market sentiment, especially with soaring expectations for a strong rise in Pi's price.
However, another expert Coinvo believes that the recent decline is a buying opportunity. He stated, "Pi RSI divergence" is sending a "large-scale buy signal." Additionally, he pointed out that the current "Fibonacci zone" could push the cryptocurrency to new heights.
Considering this analysis, the price of Pi Network may reach new highs in the coming days. However, recent Pi Coin price forecasts suggest it could drop to $0.54 next month. That said, investors should conduct due diligence before placing bets on the market.
