Pi Network Set to Unlock 188M Tokens This Month – Will PI Price Crash or Rally?

Pi Network has dipped by 5% in the past 24 hours, with the alt’s slide to $1.87 coming after the cryptocurrency market enjoyed a recovery yesterday.

PI is now down by 30% in a week but up by an impressive 57% in 30 days, following its mainnet launch last month.

Its drop today comes as its protocol is about to unlock 188 million PI over the course of the month, adding to its current circulating supply of 7.046 billion PI.

But with the token having a maximum total supply of 100 billion PI, March’s unlock is arguably a drop in the water, with Pi Network continuing to have a bullish long-term price prediction.

Pi Network Set to Unlock 188M Tokens This Month – Will PI Price Crash or Rally?

Pi Network is famously a cryptocurrency in which regular users can mine its tokens, doing so via their smartphones.

As stated above, it has a total max supply of 100 billion PI, with around 7 billion PI in circulation, according to CoinGecko.

It will therefore release coins to miners on a regular basis, with its explorer indicating 188 million PI is unlocking this month.

Pi Network token unlock schedule. — Source: ExplorePi

Yet every month will see a substantial release of new PI, with June and July of this year being particularly busy, with around 220 million and 230 million PI unlocking, respectively.

This schedule will continue for several years until users have mined all 100 billion PI, so it’s something to which holders and investors should become accustomed.

And to be fair, the news of March’s unlock hasn’t impacted PI’s price too heavily, with its chart today showing the coin in an interesting position.

Its 30-period moving average (orange) recently climbed over the 200-period average (blue), a sign that it has entered a growth period.

Pi Network price chart. — Source: TradingView

Yet we also see its RSI (purple) declining after passing 70 yesterday, which could be taken as a sign that it will fall some more over the next one or two days.

However, when combined with its 30-period average, the fact that the RSI had been below 50 for just over a week should mean that more gains are coming.

Exchange listings will make gains even likelier, with Binance holding a recent community vote that would suggest it may list the token quite soon.

Pi Network Set to Unlock 188M Tokens This Month – Will PI Price Crash or Rally?

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Pi Network Set to Unlock 188M Tokens This Month – Will PI Price Crash or Rally?

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