Pi Coin's price tumbled 25% on Tuesday, May 9, sliding to $1.10. This downturn came after an 8 million token unlock, likely contributing to fresh selling pressure.
Another 13 million tokens are set to release on May 15, raising concerns about further price drops.
However, the token saw massive trading volume of $1.9B, major whale activity, and Binance listing rumors, driving volatility ahead of a May 14 Pi Core Team update.
Pi Network (PI) saw a sharp price drop on Tuesday, May 9, falling around 25% to trade near $1.10. This sudden crash came just after a strong rally that pushed the token’s price to a peak of $1.29, and even as high as $1.40 on some exchanges.
The recent dip happened at the same time as an 8 million PI token unlock, which added fresh supply to the market and likely put pressure on the price. And it may not be over yet — on May 15, another 13 million tokens are set to be unlocked, raising concerns about further drops.
Just a day before this crash, Pi Network was making headlines for its massive trading activity. In the past 24 hours, PI’s trading volume soared to around $1.9 billion. The price surged by more than 100% during this period, driven by large transactions from major holders. One transaction alone saw 90 million PI tokens move, which caught the attention of retail traders and sparked fresh excitement.
What’s Next For Pi Coin Price?
There were also rumors about a possible Binance listing, along with growing anticipation for an announcement from the Pi Core Team expected on May 14. Pi could still drop to around $0.80 or even $0.60, and may fall further if the development team doesn’t share a major update on May 14.
Despite today’s correction, some traders remain hopeful about Pi Network’s future. Many believe the token is still in its price discovery phase — a period when new cryptocurrencies experience price swings before settling into a stable range. Supporters argue that while setbacks are normal in crypto, the project could bounce back strongly in the coming days.
