- Pi Network’s upcoming unlock of 188 million tokens raises concerns, but most users have locked their tokens, limiting immediate selling pressure.
- Pi Coin’s price has fluctuated recently, but its market cap remains strong at $13.02 billion, despite a 39% drop in trading volume.
Pi Network is set to unlock 188 million Pi tokens in March, drawing attention from its community and market participants. This will add to the existing supply of 7 billion tokens currently in circulation.
Pi Network unlocks 188 million tokens 🚀 #PiNetwork #PiToken #Crypto #Binance #PiCoin #Pi pic.twitter.com/62nAcIt84x
— CleverRobot (@CleverRobotHQ) March 6, 2025
This event raises concerns about its possible impact on the token’s price, particularly with the crypto market already experiencing fluctuations. However, despite these concerns, the Pi token has shown resilience despite upcoming unlock events.
While the upcoming unlock of 188 million tokens has created some uncertainty, the Pi Coin has gained momentum. As of now, Pi has experienced a 3% price increase, which displays the continued confidence of its users. With over a million users set to receive unlocked tokens, the market awaits the effects on price and demand.
A noteworthy aspect is that many Pi token holders opt to lock their tokens rather than sell them. According to recent data, approximately 63% of Pi users have chosen a three-year lock, and another 14% have opted for a one-year lock. This indicates that immediate selling pressure from the unlock may be limited.
Price Fluctuations and Market Activity
Pi Coin’s price has fluctuated in recent days. After reaching $2.99, it experienced a slight decline, now trading around $1.84. Despite these price movements, Pi’s market capitalization stands at $13.02 billion, indicating substantial market value.
Over the last 24 hours, Pi’s trading volume decreased by 39.10%, showing reduced trading activity, which may also contribute to market volatility. As more tokens are unlocked, the question remains whether these market dynamics will stabilize or increase the fluctuations in Pi’s price.
Pi Coin’s position in the crypto market has been impressive, as it recently surpassed major cryptocurrencies such as Chainlink (LINK) and Hedera (HBAR) in market value. The token now ranks as the 11th largest cryptocurrency by market cap, reaching $13.52 billion.
Pi Coin has garnered attention despite facing challenges such as being unlisted on major exchanges like Bybit, as reported by ETHNews. Pi supporters have voiced their frustrations with Binance for not listing Pi Coin, but the exchange has yet to act on these requests.
Market Sentiment and Liquidity Data
Looking at market activity from February 22 to March 5, a large number of long liquidations occurred, reflecting the market’s uncertainty. This was evident as Pi’s price fluctuated, with periods of sharp price increases and decreases.
The liquidation data suggests a complex interaction between short and long positions, indicating shifting market sentiment. The current market conditions and token unlock create a complex scenario where Pi’s price may face additional volatility.
Technical Indicators: RSI and MACD
Pi Network’s technical indicators show mixed signals. The Relative Strength Index (RSI) currently stands at 41.48, indicating a neutral to slightly oversold condition. An RSI reading below 30 signals oversold conditions, while a reading above 70 indicates overbought conditions. The RSI below the moving average suggests weaker momentum, which could lead to further price declines if the RSI stays below 50.
Meanwhile, the MACD indicator also offers a bearish picture, with a negative crossover between the MACD and signal lines. This bearish trend and the negative histogram signal that the market sentiment is currently tilted toward selling pressure.