The native token of Pi Network, $PI, has recently come under significant market pressure following the unlocking of 268.48 million PI tokens, an event that introduced nearly $478 million worth of liquidity into the market. This unexpected surge in circulating supply led to an immediate price drop, sending PI to $1.60, a sharp 11.6% dip within a single day. With technical indicators flashing red and investor sentiment shaky, many are now wondering โ is this a temporary correction or the start of a longer downturn?
๐ Whatโs Behind the Sudden Price Drop?
A few key catalysts have contributed to the current market stress:
Token Unlock Flood: The large-scale release of PI tokens has created an oversupply scenario, increasing selling pressure and triggering panic across the board.
Support Levels Breached: PI briefly touched a monthly low of $1.54, breaking critical support levels before attempting a minor recovery.
Pi Day Optimism Wanes: As March 14 โ Pi Day โ approaches, earlier expectations for major announcements (such as a Binance listing or mainnet upgrades) have started to cool, adding uncertainty to the short-term outlook.
๐ Price Action & Recovery Potential
The next key area to watch is the $1.95 resistance zone. A clean breakout above this level could signal a trend reversal, potentially paving the way for a rally toward $2.40. However, continued failure to maintain current support levels could expose PI to further downside risk. With high volatility in play, both traders and long-term holders are advised to exercise caution and monitor developments closely.
๐ Binance Listing Rumors โ Hope on the Horizon?
Adding fuel to the speculation, ongoing rumors of a Binance listing continue to circulate, and such a move could be a major bullish catalyst. A listing on one of the worldโs largest exchanges would unlock access to global liquidity, attract institutional interest, and potentially restore bullish momentum. Until an official statement is released, however, it remains a waiting game.
Despite the current turbulence, the Pi Network community remains resilient and hopeful. Many are looking forward to potential network upgrades, strategic partnerships, or even deflationary measures like a supply burnโany of which could serve as a trigger for a price rebound. As always in crypto, timing is everything, and a single update could shift market sentiment overnight.
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