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Update on Pi Coin Price Prediction: 11 Million VND Unlocking Causes Panic
With the number of tokens being unlocked daily reaching tens of millions, the price forecast for Pi Coin remains bleak as supply continues to far exceed demand. Pi is largely excluded from the discussion about "the best cryptocurrencies to buy", ranking among the top 5 biggest weekly losers with a 15% decline, while most have only decreased slightly. Supply exceeds demand and with 228.5 million tokens expected to be unlocked in the next 30 days, the downward pressure will not stop.
The pressure of price decline shows no signs of easing as an additional 228.5 million tokens are scheduled to be unlocked in the next 30 days. Worse still, macroeconomic tensions are rising. As the US-China trade war pushes the US GDP into negative territory for the first quarter since Q1 2022, Pi is facing a panic sell-off due to heavy FUD. Pi Coin Price Analysis: Why Bulls Still Have Hope Although this setup presents a challenge for Pi coin at 5 dollars, the important steps taken by the Pi Core Team to accelerate the deployment and approval of dApps have laid the foundation for a broader utility advancement. The Pi ecosystem is struggling with adoption. Its price volatility remains largely speculative, lacking meaningful use cases to sustain long-term growth.
The Consensus 2025 conference taking place in mid-May could play a key role for the Pi Network platform to showcase the potential of this ecosystem beyond the scope of a highly inflationary speculative asset. As a result, the increasing confidence of investors may drive a surge. That said, PI Coin may see a price increase when it breaks through the descending channel formed since the price increase at the mainnet launch.
The expected target of the channel is close to 1 dollar - a potential increase of 100% compared to the current level - but the momentum after the breakout has slowed down. A symmetrical triangle was formed and has now broken downwards, pulling the price back to the support area of $0.50, which has supported the recent consolidation. The concerning thing is that the daily MACD is converging towards a bearish crossover. If the signal line is broken, it could reinforce the current downtrend and open the door for further losses. Without a strong catalyst before Consensus 2025, Pi Coin risks dropping to $0.40 - a 30% decrease from the current level.