The Pi Network price has moved sideways over the past six days as demand waned and traders looked forward to another big token unlock in the new year.
Summary
- Pi Network price has remained under pressure over the past few weeks and is now at a critical support level.
- The network will unlock 134 million tokens in January next year.
- The pace of unlocking will decrease in the following months.
Pi coin (PI) was stuck at $0.2025, a drop of more than 93% from its all-time high. Its liquidity has largely dried up, and trading volume has fallen to $10 million, a small amount for a cryptocurrency valued at over $1.6 billion.
The Pi Network price will react to the upcoming token unlocks in January next year. Data sample that 134 million tokens worth more than $27 million will be unlocked in January.
While this is a large number, it will be much smaller than the 190 million tokens that were unlocked in December. Most importantly, the pace of unlocks will continue to fall in the first half of the year, leading to a lower inflation rate.
Meanwhile, the Pi Network team is working on several initiatives to increase its price over time. He has already invested in two companies: CiDi Games and OpenMind, using part of the $100 million ecosystem fund launched in May this year.
Additionally, they are currently conducting a test of their decentralized exchange and automated market making tools, with the mainnet launch scheduled for 2026. The goal of this platform is to provide greater utility to the Pi token and potentially increase its price over time.
The developers also recently held a hackathon where they presented their ideas. Blind room, The winner was a privacy-first social and dating platform where users connect anonymously and then connect when they mutually agree.
Second place winner Starmax is a loyalty app that allows businesses to offer loyalty programs using the Pi token.
Pi Network Price Technical Analysis
The three-day period chart indicates that the Pi token price has remained sideways for the past few days. It has held at the key support level at $0.2021, its lowest level on November 3, and the neckline of the double top pattern at $0.2823.
The token has remained below the 50-day exponential moving average (EMA), while the Supertrend indicator has turned red.
Therefore, the most likely Pi Coin price forecast is bearish, with the next key support level to watch at $0.1514, its lowest level in October and its all-time low. This price is approximately 25% below the current level.
