• Pi coin price recovers today after a month-long downtrend. 
  • More than 13 million Pi coins will be unlocked this week, which hints at a potential price dip. 

Pi coin market price is under scrutiny by early pioneers and crypto community members. It has been going on a continuous downtrend for the past few days. Today’s market recovery in Pi coin price is bringing new hopes among community members and early pioneers. Whether it will last long and Pi coin reach its peak is still a question mark. 

Pi Network’s negligence in addressing the issues of community members and large volumes of token unlocks is the major reason behind its month-long price drop. On the other hand, the broader market crash in the last week due to global macroeconomic conditions has also impacted the Pi coin market. 

Pi Coin Price Makes a Recovery Today, Will it Reclaim $1? image 0 Pi Coin Price (Source: CoinMarketCap )

PI is trading at $0.5774 with a 2.37% price surge today, at the time of reporting. From the lows of $0.55, it is now trading in the $0.57 zone, after briefly touching the $0.6 mark. Even though its market cap witnessed a slight increase, its 24-hour trading volume dropped by 44%. 

The broader crypto market witnessed a slight recovery today after recording over $1.35 billion in crypto liquidations yesterday. This might have influenced the Pi coin market and pushed its price to witness some gains today. 

Will Pi Coin Reclaim $1 Despite 13M Token Unlock This Week?

Pi Coin Price Makes a Recovery Today, Will it Reclaim $1? image 1 Pi Token Unlock (Source: PiScan )

Pi’s core team employed a token unlock feature, which releases new Pi coins into circulation each day for the next few years. Based on token unlock statistics, more than 13 million Pi coins will be unlocked this week. This inflationary token supply is one of the major reasons why the Pi coin market price decreased over the past few weeks. 

On the other hand, there is no official statement or announcement from the Pi core team since PiFest. Despite community members asking that the migration concerns be solved multiple times, the team seems to be deliberately silent on the issue. If the same scenario continues, it will only be a matter of time until Pi Network loses the trust it has built over the last 6 years. 

The present price recovery is small, and the Pi coin price is much lower than its all-time high value. This makes it difficult to estimate any further gains for the token in the near future. The token unlocks are also not helping the Pi coin market. TheNewsCrypto’s bullish PI price prediction is $1.2362, and bearish price prediction is $0.2867 for 2025. 

Highlighted Crypto News Today: 

Nigerian Court Adjourns Binance’s $81.5B Tax Evasion Case to April 30