Pi (PI) Drops by 12% as Market Correction Hits the Token

Pi Network's native token (PI) has experienced significant price volatility since its launch on February 20, 2025.

Pi Network’s native token (PI) has experienced significant price volatility since its launch on February 20, 2025. The cryptocurrency, which is currently being traded on several exchanges including Bitget, OKX, and MEXC, reached an all-time high of nearly $3 on February 27. However, it has since dropped by over 50%.

As of press time, PI is changing hands at $1.41, down 12% in the last 24 hours and 16% over the past week. This decline comes amid a broader cryptocurrency market correction, which saw Bitcoin briefly fall to $80,000.

The PI token was introduced almost six years after the project’s inception. During its initial trading days, the price fluctuated between $0.64 and nearly $3, showcasing substantial volatility.

Several exchanges have already listed the token for trading. These include Bitget, OKX, and MEXC, providing initial market access for traders and investors.

Binance, the largest cryptocurrency exchange, recently conducted a community vote regarding a potential PI listing. Over 86% of voters supported adding the token to the platform. However, Binance has not yet announced whether it will be listing PI.

A Binance listing could significantly impact PI’s price. It would likely increase liquidity and accessibility, potentially creating upward pressure on the token’s valuation.

Technical Analysis

Technical analysis indicates that PI is currently consolidating. The token faces strong resistance at the $2 mark, which has proven difficult to break through since its launch.

According to one analyst, PI needs to break above the $1.99 resistance level. This breakthrough could push the price toward $2.04 in the short term. However, if it fails to break the resistance, it might drop toward $1.57.

The Relative Strength Index (RSI) stands at 61 in the upper neutral zone. This, combined with decreased trading volume, suggests traders have been selling the coin, reducing the bullish momentum needed to break through resistance.

On-chain data from Tokenview shows large-scale liquidations over the past two weeks. The long-short ratio is 0.83, indicating bearish sentiment as traders are exiting their positions.

Token Unlocks

A significant concern for investors is the upcoming token unlocks. According to PiScan data, massive PI unlocks are scheduled over the next 30 days, with the largest occurring on March 17 and March 21.

Approximately 282 million tokens, worth about $390.93 million at current prices, will be released. This substantial increase in circulating supply could create additional selling pressure on the market.

Despite these challenges, some analysts remain optimistic. One expert claims that PI could reach $3.50 if it manages to maintain support at the crucial $1.05 level, which also coincides with key Fibonacci retracement levels.

Real-world adoption is also slowly emerging for PI. Real estate firm Zito Realty LLC has announced plans to accept the token as a payment method for homes, potentially increasing the token’s utility.

With Pi Day (March 14) approaching, community members are eagerly awaiting positive project updates. Any news related to the project could help balance out the selling pressure stemming from the upcoming token unlocks.