Pi Coin has plunged over 80% from this year's highs. The current price is oscillating between $0.343 and $0.345 amid poor liquidity and continuous token unlocks.
Token Unlocks and Liquidity Struggles
Recent token unlocks have intensified selling pressure. Approximately 163 million PI tokens worth about $60 million have entered circulation, with another batch expected soon. Such supply inflows outpace demand, making price recovery challenging. Volatility is also rising due to low trading volumes on major exchanges.
Technical Levels Signal More Downside
Charts reveal resistance at $0.359 with key support levels at $0.345 and $0.334. A drop below $0.341 could push prices down to $0.320. The RSI indicates weak momentum.
Development Delays Erode Confidence
Market sentiment is further affected by project delays, such as the full rollout of KYC, the V23 upgrade, and mainnet decentralization. These delays complicate adoption as competitors advance.
The Pi Coin's price collapse stems from token unlocks, liquidity shortages, and development delays. The risks of further declines remain high.
