The open-source mobile mining Pi blockchain stumbled into an enormous price crunch on Friday, as Pi coin unlocks took a toll on the altcoinโs market value. Attempting to find its foot at the $0.82 support territory, Pi token’s (PI) price has already fallen by more than 45% over the past 7 days.
Pi Network Token Unlocks Stir Market Chaos
Losing the $1 price mark in the early hours of March 21, 2025, the psychological barrier took a drastic downswing from $1.03 to $0.96 in 5 minutes. Obviously, the $0.96 resistance didnโt hold for long and now crypto analysts mark $0.60 as the next major support zone for Pi Network (PI).
Since this tweet, Pi coinโs price fell another 3 cents below whatโs pictured in the screenshot, while the 25% dip in 24 hours can be explained by the inflation of PI tokens. Currently trading at $0.86, Pi Network (PI) is still licking its wounds after a massive PI token unlock earlier today.
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Judging by the altcoinโs token unlock schedule, which is averaging 3.63M Pi Network (PI) tokens a day in the next 30 days. The accelerated Pi Network (PI) unlocks today significantly contributed to the PI coin price crunch, while the monthly plan constitutes a total unlock of $108,741,564 worth of PI tokens.
Turnaround In Pi Coinโs Balance Of Power
According to the Balance Of Power (BOP), this meter has increased from highly negative values early on March 21, 2025 and is now breaking past 0.6, meaning that PI coinโs price is attempting to consolidate and try crossing the Bollinger Bands (BOLL) on 4-hour charts.
As the image above suggests, the lowest-tier Bollinger Band, depicted in green color, starts at $0.8869, while Pi Network (PI) is currently trading fractions of a cent below this price range. If this key support field holds, $1.09 is the next price target to watch out for, equivalent to the middle Bollinger Band.
Finally, the technical envelopes derived from a moving average formula suggest a potential red-label price at $1.35, which was last claimed on March 18, 2025. The lack of interest of major crypto exchanges could restrain Pi Network (PI) from rebounding quickly, but the open-source chain continues to hover above a $6 billion market capitalization despite the 25% breakdown.
On The Flipside
- The new open-source Pi blockchain project is yet to gain any major listings except for OKX, despite the PI community actively urging Binance to list the token after a favorable voting on Binance Square.
Why This Matters
The open-sourced blockchain network made crypto mining available to any smart mobile device owner, building a strong community of developers and tech enthusiasts.
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