Pi Network Recovers 3%, Eyes Set on Token Burn Hopes
Coinspeaker
Pi Network Recovers 3%, Eyes Set on Token Burn Hopes
Pi Network’s native token PI is showing signs of recovery after the price slump on April 8. It is currently trading at around $0.58, up nearly 3% in the past 24 hours.
This rebound comes after weeks of sideways to downward movement. The main reason behind this positive shift appears to be the notably low number of Pi unlocks this week.
According to data from PiScan, only 1.5 million PI tokens are scheduled to be unlocked per day through April 11. The largest unlock event over the next 30 days is set for April 18, with roughly 9.8 million tokens worth $5.7 million at current prices entering circulation.
In total, around 160.74 million PI tokens will be unlocked this month, with a current market value of $93.77 million. Many community members are urging the Pi Core Team to initiate a token burn strategy to mitigate inflation concerns and preserve long-term value.
Days of False Hopes Are Over, See It at Face Value!
The Pi Community needs to accept the current reality of Pi.
The deeper it dips, the longer it takes to bounce back to its all-time high.
The quick fix? The PTC should burn its damn billions of Picoins from those 20,000+ Pi… pic.twitter.com/Y0jHGqTQX5
— Dr Altcoin (@Dr_Picoin) April 5, 2025
Meanwhile, there are rumors about a potential listing of PI on Binance. While Binance initiated a community vote back in February, and 86% of voters favored the listing, the exchange has yet to make an official announcement.
PI Price Outlook: Rally to $3?
At the time of writing, PI boasts a market cap of $3.94 billion, ranking 26th among the top cryptocurrencies, per CoinMarketCap.
On the 4-hour PI price chart, the Relative Strength Index (RSI) currently sits at 46, suggesting neutral-to-bearish conditions and a persisting stalemate between the bulls and the bears. However, the recent spike in RSI hints at growing buyer interest.
Source: TradingView
Bollinger Bands are tightening, showing signs of consolidation. A breakout from this range could confirm the next directional move. Traders can face resistance around $0.60 (the middle Band) and a clear break above this level could lead to a retest of the upper Band at $0.67.
Meanwhile, the MACD has recently formed a bullish crossover, with the MACD line edging above the signal line. While the histogram remains modest, the green bars imply that bullish momentum is building slowly.
Source: TradingView
Despite the ongoing volatility, experts are betting against PI’s long-term potential. Popular crypto analyst Moon Jeff has predicted a dramatic rally to $3 by June 2025.
The analyst also pointed out that 944K PI tokens will be unlocked today. The value of this unlock stands at half a million dollars and could adversely impact the digital asset’s price action.
944K $PI will be unlocked today.
This is way less compared to what is coming after 15th April.
The unlocks will be huge.
Just take measures. #PiNetwork pic.twitter.com/CGxrMhT0Tk— MOON JEFF 🪐 (@CRYPTOAD00) April 8, 2025
Moon Jeff advised investors to take their positions accordingly as more PI tokens will be released into the market by mid-April.
Read More
Is Pi Coin Worth Anything? Exploring Its Real Value and Potential
Pi Network Recovers 3%, Eyes Set on Token Burn Hopes
Coinspeaker
Pi Network Recovers 3%, Eyes Set on Token Burn Hopes
Pi Network’s native token PI is showing signs of recovery after the price slump on April 8. It is currently trading at around $0.58, up nearly 3% in the past 24 hours.
This rebound comes after weeks of sideways to downward movement. The main reason behind this positive shift appears to be the notably low number of Pi unlocks this week.
According to data from PiScan, only 1.5 million PI tokens are scheduled to be unlocked per day through April 11. The largest unlock event over the next 30 days is set for April 18, with roughly 9.8 million tokens worth $5.7 million at current prices entering circulation.
In total, around 160.74 million PI tokens will be unlocked this month, with a current market value of $93.77 million. Many community members are urging the Pi Core Team to initiate a token burn strategy to mitigate inflation concerns and preserve long-term value.
Days of False Hopes Are Over, See It at Face Value!
The Pi Community needs to accept the current reality of Pi.
The deeper it dips, the longer it takes to bounce back to its all-time high.
The quick fix? The PTC should burn its damn billions of Picoins from those 20,000+ Pi… pic.twitter.com/Y0jHGqTQX5
— Dr Altcoin (@Dr_Picoin) April 5, 2025
Meanwhile, there are rumors about a potential listing of PI on Binance. While Binance initiated a community vote back in February, and 86% of voters favored the listing, the exchange has yet to make an official announcement.
PI Price Outlook: Rally to $3?
At the time of writing, PI boasts a market cap of $3.94 billion, ranking 26th among the top cryptocurrencies, per CoinMarketCap.
On the 4-hour PI price chart, the Relative Strength Index (RSI) currently sits at 46, suggesting neutral-to-bearish conditions and a persisting stalemate between the bulls and the bears. However, the recent spike in RSI hints at growing buyer interest.
Source: TradingView
Bollinger Bands are tightening, showing signs of consolidation. A breakout from this range could confirm the next directional move. Traders can face resistance around $0.60 (the middle Band) and a clear break above this level could lead to a retest of the upper Band at $0.67.
Meanwhile, the MACD has recently formed a bullish crossover, with the MACD line edging above the signal line. While the histogram remains modest, the green bars imply that bullish momentum is building slowly.
Source: TradingView
Despite the ongoing volatility, experts are betting against PI’s long-term potential. Popular crypto analyst Moon Jeff has predicted a dramatic rally to $3 by June 2025.
The analyst also pointed out that 944K PI tokens will be unlocked today. The value of this unlock stands at half a million dollars and could adversely impact the digital asset’s price action.
944K $PI will be unlocked today.
This is way less compared to what is coming after 15th April.
The unlocks will be huge.
Just take measures. #PiNetwork pic.twitter.com/CGxrMhT0Tk— MOON JEFF 🪐 (@CRYPTOAD00) April 8, 2025
Moon Jeff advised investors to take their positions accordingly as more PI tokens will be released into the market by mid-April.
Read More