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Is Pi Network Poised for a Rebound or Facing a Prolonged Slump?
The Pi Network’s native token, $PI, has recently experienced heightened volatility, driven by a major event that injected substantial liquidity into the market. The unlocking of 268.48 million PI tokens, equivalent to nearly $478 million, has significantly expanded the token's circulating supply. This sudden influx triggered intense selling activity, resulting in an 11.6% drop in value, with prices tumbling to $1.60 within a single trading session.
Key Drivers Behind the Downturn
Several factors have converged to amplify bearish sentiment around PI. Foremost is the token unlock, which saturated the market and tipped the balance heavily toward supply, sparking widespread fear and sell-offs. Compounding the issue, PI briefly plummeted to a monthly low of $1.54, breaching crucial support levels and signaling weakness in market confidence. Additionally, the optimism that once surrounded Pi Day (March 14) — previously seen as a potential launchpad for major announcements like a Binance listing or mainnet enhancements — has gradually faded, leaving investors uncertain and cautious.
Outlook: Correction or Collapse?
From a technical perspective, all eyes are now on the $1.95 resistance level, a critical point that could determine PI’s next direction. A decisive bre
