Amid price declines for Pi Network tokens, concerns arise about upcoming volatility linked to a major token unlocking.
Price Decline
Over the past week, many cryptocurrencies have shown significant gains; however, Pi Network (PI) tokens have found themselves in the red, declining by 8% and trading below $0.50.
Upcoming Volatility Factors
According to Piscan, a record number of tokens—19.2 million PI—are scheduled to be unlocked on July 4, marking the largest single-day unlocking to date. This could increase the likelihood of downward price pressure as holders are able to sell after a prolonged wait.
Analyst Optimism
Despite potential corrections, some X users remain optimistic about the price of PI tokens. One user, under the alias Woody Lightyear, believes that PI is gearing up for a significant price surge, noting the growing demand around the $0.50 mark.
As changes loom on the market and token unlockings approach, investors and analysts are closely monitoring developments.
