Pi Coin Drops by More Than 50% in Two Days

Pi Coin has seen a wild ride in the market recently. The token jumped to a high of $1.70 on May 13 but dropped by more than 50% in just two days.

Pi Coin (PI) has seen a wild ride in the market recently, as the token surged to a high of $1.70 on May 13 before dropping by more than 50% in just two days.

Now, the token is trying to stay above $0.81, though several resistance points might make the road to recovery difficult, according to experts. The token is also facing pressure from upcoming token unlocks and missed expectations.

In just a few days, Pi Coin’s market value fell from $9 billion to $6 billion, and it slipped from the top 20 cryptocurrencies to 29th place.

What’s Next for Pi Coin?

Even though Pi Network recently announced a $100 million fund to support app development, the short-term market outlook remains bleak, with several analysts noting that unless there’s strong news, it will be hard for Pi to climb back to $1.50 or $1.70 anytime soon.

If the project manages to attract good app development and secures Binance or Coinbase listings, analysts at Long Flash might see PI reclaiming the $1.50 mark by month-end. In a more optimistic scenario, it might even aim for $2.50 by Q4 2025.

Data from Trading View shows that Pi Coin’s technical indicators are mostly neutral, with no strong momentum in either direction. The Relative Strength Index (RSI) is currently at 53.55, which shows it’s neither oversold nor in overbought conditions. However, MACD is slightly bullish, with a ‘Buy’ signal, indicating an upward momentum that could be building.

Investors are also keeping an eye on a large number of Pi tokens that will be getting unlocked in the coming days. According to Piscan data, about 14.6 million Pi tokens will be unlocked today, which could increase selling in the market.

In total, about 272.9 million Pi tokens worth $234.6 million will be unlocked over the next 30 days. On average, 9.1 million tokens will be released each day. The biggest day is expected on May 28, when 15.1 million tokens will hit the market, which could cause more price drops.

Pi Network Moves Closer To Full Decentralisation

Dr Altcoin shared in a recent post that Pi Network has taken a major step toward becoming fully decentralized by permanently shutting down its central coordinating node. This is a big move because it removes the centralised control and allows the network to operate in a more open and community-driven manner.

This move might increase the demand for Pi Coin over time. The impact might be gradual, as price also depends on other factors like market conditions, adoption, and functional apps on the network.