Pi Network (PI) Cools Down After 90% Rally, But Analysts Remain Unfazed

Over the past 24 hours, Pi Network has cooled down, following its explosive 90% rally in the past week. But analysts are unfazed by the pullback.

Pi Network has cooled down over the past 24 hours, following its explosive 90% rally in the past week. However, analysts are unfazed by the pullback.

Historically, such corrections are natural after rallies, and Pi still remains up 59% over the last month.

While Bitcoin, Ethereum, and Solana continue to dominate conversations, Pi Network is carving out a niche with its mobile mining app and decentralized Pi browser, aiming to bring real-world utility and mass adoption closer to reality.

However, Pi’s year-to-date performance tells a different story. After institutional investors initially pumped massive amounts into the token, leading to a surge in its price, it later saw a decline.

Since bottoming out at around $0.40, Pi has climbed back to nearly $1.20, breaking through major resistance levels and moving averages.

Where Is Pi Network Headed Next?

Technical analysts have identified a parallel channel pattern forming on Pi’s chart. If the token breaks out of this formation, the price could surge another 234%, potentially reaching $5.27 per token.

That would equate to a market cap of roughly $39 billion — putting it in the same league as other established projects.

According to data from DeFiLlama, at least 5.17 billion Pi tokens, valued at approximately $6.19 billion, are currently locked.

Over the next 30 days, around 265.44 million Pi (worth about $317.92 million) are scheduled to be unlocked, which accounts for 5.13% of the total locked supply.

On average, about 8.85 million Pi tokens (equivalent to $10.6 million) will be unlocked daily. The highest single-day unlock is expected on May 16, with approximately 14.75 million Pi tokens — valued at $17.67 million — set to be released.

This upcoming unlock activity could lead to increased price volatility in the Pi market, as a surge in token availability often influences market dynamics and investor sentiment.