Pi Network price has continued to decline and traded below the $0.8 mark amid growing concerns in the broader community. A flurry of factors appears to be affecting the investors’ sentiment, with recent trends and analysis indicating towards further slip ahead to about $0.6. However, despite that, experts remained bullish on the long-term trajectory of Pi Coin.
Pi Network Price Slips 3%: What Lies Ahead?
Pi price today was down around 3% and exchanged hands at $0.79, while its volume for the last 24 hours increased by 33% to $327 million. Notably, the crypto has touched a 24-hour low of $0.77 from yesterday, indicating the gloomy sentiment hovering in the market. Notably, an article highlighted the key reasons behind the latest Pi price dip.
Amid this, market watchers anticipate a further fall ahead, with some experts predicting a slump to even $0.6. However, despite that, the market watchers remained bullish, hinting at a potential breakout ahead.
Will Pi Coin Slip To $0.6?
A flurry of market experts anticipates a further dip in Pi Network price due to massive token unlocks ahead. According to PiScan data, a total of 105.96 million Pi will be unlocked over the next 30 days, worth around $85 million at the current price. The daily average unlock is around 3.5 million coins.
This heavy influx could significantly dampen the investors’ sentiment. Besides, a lack of clarity from the Pi Core Team has further fueled concerns. On the other hand, the lack of major listings on leading crypto exchanges like Binance, which many were anticipating, has weighed on the sentiment.
Besides, looking ahead to the next 12 months, 1.6 billion Pi Coins are set to be unlocked, with an average of 129 million per month. This trend is expected to continue until May 2028, with minimal changes. To mitigate this potential price drop, Pi enthusiasts are urging the Pi Core Team to implement measures to reduce circulation, such as burning mechanisms or smart contract features.
Expert Predicts Dip To $0.6: What’s Next For Pi Network?
Analyst bullstraders7 on TradingView noted that Pi Network price risks falling to $0.61 or even $0.6 in the coming days. This has further dampened the market sentiment, especially with soaring anticipation over a robust rally in Pi price.
However, another expert Coinvo sees this latest dip as a buying opportunity. He said that “Pi RSI divergence” is signaling towards a “massive buy signal.” Besides, he also noted that the current “Fibonacci zone” could push the crypto to a new high ahead.
Considering this analysis, Pi Network price could hit a new high in the coming days. However, a recent Pi Coin price prediction hints at a potential drop to $0.54 by next month. Having said that, investors should exercise due diligence before putting their bets into the market.
The post Pi Network Price Risks Falling To $0.6 Before Pi Coin’s Robust Breakout appeared first on CoinGape.
