Pi Network Brakes Token Unlocks—Will PI Prices Break Out?
Pi Network’s supply crunch hits as token unlocks slow to a crawl this month. Traders eye potential price pressure—but can the ’mobile mining’ project deliver?
Key factors at play: Reduced sell pressure from new tokens entering circulation could prop up PI’s value... if demand holds. Meanwhile, the core team keeps mainnet launch timelines vague—classic crypto vaporware tactics.
Bottom line: This is either a perfect storm for a breakout, or another test of the community’s cult-like patience. Either way, hedge funds are placing bets (while quietly shorting it on Binance).
PI on the Move
After several days of downward trading, Pi Network (PI) finally managed to chart some gains in the past day. Its price has spiked by 6.5% in the past 24 hours, currently trading at around $0.61 (per CoinGecko’s data). In fact, PI has outperformed leading cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), which are also in the green on a daily scale but have recorded less substantial increases.
Somewhat expected, the resurgence has infused enthusiasm across the Pi Network community, with some members envisioning a further jump in the short term. One X user noted that PI has been consolidating in the $0.50-$0.70 range lately, labeling it as “a good accumulation zone.” That said, they believe it’s now “time for a pump,” setting a target of $5.
MOON JEFF, who often touches upon the matter, shared a similar thesis. He described the token’s chart as bullish, claiming someone is “buying hard.”
Additionally, Pi News (an X account dedicated to presenting news involving Pi Network) suggested that “PI can go beyond your imagination anytime.” The theory is based on the assumption that anything is possible in the cryptocurrency sector, citing the recent price explosion of ALPACA, which soared by over 2,000% within a week before it crashed just as fast.
Unlocks to Cool Down
Over the past several weeks, there has been a major unlock of PI tokens. The record day was April 30, when over 11 million coins were freed up. These developments could have been among the reasons suppressing PI’s price at a time when BTC and many leading altcoins were charting significant rallies. After all, this gave some investors the opportunity to sell tokens they’ve been waiting for a long time.
It is important to note that the unlocks will remain relatively high in the short term, but there will be an evident slowdown after that. The last day when more than 10 million tokens are scheduled for release is May 8, while by the end of the month, the number is expected to drop below 6 million.
Meanwhile, the current circulating supply of PI is just south of 7 billion, and over 70% of that amount remains in the form of locked mining rewards.
