Pi Network is under pressure as its price falls, and upcoming token unlocks may further dilute the asset's value.
Current Pi Network Status
The price of Pi Network dropped to $0.7012, its lowest level since February 25, with market capitalization decreasing from nearly $20 billion to $4.76 billion.
Token Unlocks and Implications
Over 124 million Pi tokens are expected to be unlocked this month, leading to further inflation. In the next 12 months, the network plans to unlock more than 1.53 billion tokens, increasing total supply to 8.2 billion.
Technical Analysis and Prospects
Technical analysis shows Pi Network in a downtrend, but the formation of a falling wedge pattern may indicate a potential reversal. A major exchange listing could serve as a catalyst to return to the $1 level.
Pi Network faces significant challenges such as supply inflation and the absence of major exchange listings. Critical decisions like implementing a token burning mechanism could influence the project's future.
