TL;DR Ever since it went live, Pi Network’s PI token has continued to be a controversial topic in the crypto community, but its price has slumped hard after the recent peaks. However, certain tokenomics and technical patterns point to a price reversal in the near future. The massive Pi Network community finally saw the release of the project’s Open Network and native token on February 20 after years and years of development. The asset experienced enhanced volatility in its first trading days, which included a drop from $1.8 to $0.7 and an all-time high of $3. However, its progress has stalled since then and PI is now down by over 30% on a weekly scale. It was once close to the top 10 cryptocurrencies by market cap, but it’s currently at the 26th spot, losing a significant chunk of its own. As reported yesterday, certain partnerships could propel a price reversal for the token. However, there are other bullish hints as well. A Pi Network-dedicated channel based in Vietnam indicated that this price crash could be related to the massive amount of unlocked PI tokens in the first month of its official existence. The team explained, though, that the supply continues to decline and is down to 6.7 billion from 7.2 billion. The post further said the actual circulating supply is about 1.7 billion as many Pi Network users have failed to complete the necessary verification steps , and their 5 billion PI tokens are still locked. The team concluded that the number of unlocked PI tokens for the next month should decrease significantly, from 13M PI per day to 3.8M/day. Should that transpire and there are fewer coins being unlocked, the asset’s price could start to recover, especially if the demand remains the same or increases. Separately, a popular analyst on X noted that the PI/USDT pair has been “confined within a falling channel, facing repeated rejections at the upper trendline while finding strong support at the lower edge.” He determined that a breakout from this descending channel with “notable momentum” could reverse the trend. In addition, a previous resistance has been reclaimed and turned into a support line, which reinforces the bullish sentiments and could lead to a surge to $2 soon. #PI Analysis: The PI/USDT pair has been confined within a falling channel, facing repeated rejections at the upper trendline while finding strong support at the lower edge. Recent price action indicated a breakout from this descending channel with notable momentum, hinting at a… pic.twitter.com/6UZEzqfskj — Andrew Griffiths (@AndrewGriUK) March 22, 2025 The post Is Pi Network’s PI Token About to Explode? 2 Key Signs Point to a Trend Reversal appeared first on CryptoPotato .
