Analysts foresee a short-term PI price surge above $2, but upcoming token unlocks may impact the correction.
Bullish Forecasts
Pi Network's native token – PI – emerged on February 20 when the project finally launched its Open Network. The token’s price has been highly volatile since its inception, reaching an all-time high of nearly $3 before plunging to $0.68 by March 31. Despite the instability, many analysts, such as Crypto King, predict a bullish short-term trend. For instance, Crypto King suggests that the price could increase to $2-$2.5. Analyst MOON JEFF also believes PI could reach $2.73 by the end of the month, with a long-term price target of $27 by 2050.
Potential Further Correction
PI is designed to have a maximum supply of 100 billion tokens, but the circulating supply is less than 6.8 billion, constituting just 10% of the total amount. Many analysts forecast downward pressure on the price in the coming days due to impending token unlocks. For example, Whale.Guru reveals that over 121 million PI tokens will be unlocked in the next 30 days. According to the Pi Network block explorer, approximately 5 billion tokens are currently in circulation, while 1.7 billion are still locked.
Analysts continue to monitor developments, noting various factors that could influence PI’s price, including token unlocks and anticipated bullish trends.
