Pi price prediction today: Will it reach 1 dollar before unlocking 223 million coins?

Pi Coin is currently recording a fairly stable increase of over 3% in a day, but this token is still stuck in a narrow trading zone, unable to convincingly break through the resistance level of $0.7. Although the price has slightly increased, concerns are growing as a large number of tokens are set to be released into the market in the coming weeks.

Specifically, about 5.8 million PI tokens will be unlocked today and a much larger release — up to 223 million tokens — is expected to take place in the next 30 days. The sudden increase in supply could exert significant downward price pressure, especially in the context of a lack of strong buying demand from buyers as it stands.

At the time of writing, the price of Pi is fluctuating around the level of 0.65 dollars — an important threshold for bull sentiment. If it can close above this level on the daily chart, analysts believe that it could open up opportunities towards the milestone of 1 dollar or higher. However, if this support zone is not maintained, Pi risks continuing to decline, especially as the supply of tokens continues to flood into the market.

PI price chart 4 hours | Source: TradingviewSince being listed in February, the price of Pi has experienced wild fluctuations — having risen to a high of $3 before plummeting to around $0.4. The sharp decline has left many early users and miners, especially those who participated from the early days of Pi in 2019 and 2020, feeling disappointed.

Many factors have contributed to the ongoing difficulties in the price of Pi:

Sell-off after token issuance events: Similar to many other airdropped tokens, Pi faces a wave of strong selling after each token issuance event. A large portion of users — especially in regions like Africa and Asia — quickly sold to exchange for cash, increasing supply pressure.

The circulating supply is too large: Currently, Pi has a circulating supply of over 6.9 billion tokens, with a total supply expected to reach nearly 100 billion. Compared to the supply cap of only 21 million for Bitcoin, Pi's enormous volume makes expectations for high prices — such as $100 or even $10 — very unlikely under current conditions.

Practical application is still limited: Although Pi aims to become a widely used payment method, its use in real life remains very limited. While some businesses have accepted payments in Pi, widespread adoption is still a long way off, reducing the motivation for demand based on the practical applicability of the token.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions.

Minh Anh