TLDR
- Pi Network’s token (PI) recently hit an all-time high of nearly $3 but has since crashed over 50%
- Current price is around $1.41, down 12% daily and 16% weekly
- A potential Binance listing could boost the coin’s liquidity and price, as 86% of voters supported listing
- Technical analysis shows strong resistance at $2, with RSI at 61 indicating decreased bullish momentum
- Upcoming token unlocks on March 17-21 with over 282 million tokens (worth $390.93 million) could create selling pressure
Pi Network’s native token (PI) has experienced significant price volatility since its launch on February 20, 2025. The cryptocurrency reached an all-time high of nearly $3 on February 27, but has since declined by over 50%.
Currently trading at $1.41, PI has dropped 12% in the last 24 hours and 16% over the past week. This decline comes amid a broader cryptocurrency market correction, with Bitcoin briefly falling to $80,000.
The PI token was introduced almost six years after the project’s inception. During its initial trading days, the price fluctuated between $0.64 and nearly $3, showing substantial volatility.
PI Price
Several exchanges have already listed the token for trading. These include Bitget, OKX, and MEXC, providing initial market access for traders and investors.
Binance Listing?
Binance, the largest cryptocurrency exchange, recently conducted a community vote regarding a potential PI listing. Over 86% of voters supported adding the token to the platform, but Binance has not made any announcement yet.
A Binance listing could significantly impact PI’s price. It would likely increase liquidity and accessibility, potentially creating upward pressure on the token’s valuation.
Technical Analysis
Technical analysis indicates that PI is currently consolidating. The token faces strong resistance at the $2 mark, which has proven difficult to break through since its launch.
Analysts note that PI needs to break above the $1.99 resistance level. This breakthrough could push the price toward $2.04 in the short term, while failure might see it drop toward $1.57.
➡️ #PiNetwork ( $PI) Analysis#Pi Network is showing signs of consolidation near a key Fibonacci retracement level📊
➡️ Key Observations:
The price is currently hovering around the 1.05 support zone, a critical area for potential bullish reversal 📈
Fibonacci levels indicate… pic.twitter.com/ERnd5sKQU4
— Rose Premium Signals 🌹 (@VipRoseTr) March 6, 2025
The Relative Strength Index (RSI) currently sits at 61 in the upper neutral zone. This, coupled with decreased trading volume, suggests traders have been selling the coin, reducing the bullish momentum needed to break through resistance.
On-chain data reveals large liquidations over the past two weeks. The long-short ratio stands at 0.83, indicating bearish sentiment in the market as traders exit their positions.
Token Unlocks?
A significant concern for investors is the upcoming token unlocks. According to PiScan data, massive PI unlocks are scheduled over the next 30 days, with the largest occurring on March 17 and March 21.
Approximately 282 million tokens, worth about $390.93 million at current prices, will be released. This substantial increase in circulating supply could create additional selling pressure on the market.
Despite these challenges, some analysts remain optimistic. One expert suggests PI could reach $3.50 if it maintains support at the crucial $1.05 level, which aligns with key Fibonacci retracement levels.
Real-world adoption is slowly emerging for PI. Real estate firm Zito Realty LLC has announced plans to accept PI as a payment method for homes, potentially boosting the token’s utility.
With Pi Day (March 14) approaching, community members are anticipating positive project updates. Any favorable news could help counterbalance the selling pressure from upcoming token unlocks.
