Pi Network recently received a significant listing on the BTCC Exchange, sparking new optimism among investors. The move comes at a time when the price of the cryptocurrency has faced challenges, falling as low as $0.68 but showing a slight recovery. It has seen a drop of 22% in the last week and 60% in the last month, with the current price hovering around $0.7184.
The main factor behind the price drop was the massive token unlocks in March, which increased supply and put pressure on the price. Another reason is the lack of major announcements from the Pi Core development team, especially regarding a possible listing on Binance, which has left investors in limbo. However, April may bring some relief as the planned token unlocking will reach its lowest point – only 124.32 million tokens, which is significantly less than in the following months.
Technical analysis suggests a possible recovery. The four-hour chart shows a double bottom formation, which is often a bullish signal. Pi Coin is at the 78.60% Fibonacci level, with indicators such as the RSI and MACD showing bullish divergence. Analysts predict a possible rise to $0.95-1.00, and in optimistic scenarios up to $2.52 if the uptrend is confirmed.
The Pi Network ecosystem has seen important improvements with the PCM Wallet update, which has been rebuilt on Flutter technology, improving the user interface and transaction efficiency. Two key features were added: support for muxed accounts and the ability to select Pi tokens with a temporary limit of 200 Pi. These changes strengthen security and usability
With a market capitalization of $5.163 billion, Pi Network is among the 29 largest cryptocurrencies. Further growth may be fueled by higher adoption of exchanges and speculation about the possible burning of some tokens, which could reduce supply and increase the value of the remaining coins. Although near-term price movements remain uncertain, the combination of reduced token unlocks, positive technical indicators and ecosystem improvements provide reasons for cautious optimism.