- Pi Coin dips 1% to $0.63 as 4.9 million tokens unlock today
- Whale transfers $7.5M PI to private wallet amid steady accumulation
- Price forecasts suggest potential gains if exchange listings materialize
Pi Coin is trading at $0.63, down 1% in 24 hours, as 4.9 million new tokens unlock today, April 22. The market faces supply pressure, though notable whale activity and optimistic long-term forecasts suggest investor interest is still likely on for the token.
Price Stalls Below Resistance as Supply Grows
Pi Coin continues to face resistance at the $0.65 level. Since reaching a peak of $3 on February 26, the token has fallen by 85% before settling into a sideways trading range.
Despite several attempts to push past resistance, momentum has faded due to ongoing token unlocks. As of this press time, Pi Coin is down by 15% in the past week, increasing its monthly loss to 37.6% despite an 8.3% surge in the past two weeks.
The 4.9 million token release scheduled for today adds to the daily supply inflow that has weighed on price action in recent weeks, with no immediate catalysts in sight.
Related: Is Pi Network on the Verge of a Breakout? Fresh Roadmap Fuels 4% Price Bump
Whale Transfers Signal Strategic Accumulation
While price action remains muted, large holders appear to be making calculated moves. Recently, a whale moved 7.5 million PI tokens worth nearly $5 million from crypto exchange OKX and moved to a private wallet.
This transfer is part of a broader pattern. The wallet has now accumulated over $48 million worth of Pi Coin, which, based on current valuations, is now worth approximately $31 million. These actions could reflect expectations for future developments to drive up the asset’s price.
Technical Analysis Signals Sell Trend Amid Market Uncertainty
According to TradingView data, the one-day technical analysis summary signaled a “Sell,” with nine indicators recommending a sell, ten remaining neutral, and only three suggesting a buy. The moving averages also leaned heavily toward a “Strong Sell,” with eight indicators backing a downturn and just two showing buying potential.
Meanwhile, oscillators remained mostly neutral, with key indicators like the RSI at 42.81 and the MACD showing a buy signal. The mixed signals suggest short-term market indecision, though bearish momentum may dominate if current trends persist.
Related: AI Thinks Pi Network (PI) Could Hit $25, But Community Eyes $5 Target
Despite current challenges, Pi Coin’s long-term outlook appears more positive. According to CoinCodex projections, PI could trade between $0.63 and $2.16 by April 2025. That range reflects possible market improvements and the impact of anticipated listings on major exchanges.
Similarly, crypto analyst Seg expects Pi Coin to reach $3.14 once the token breaks through the resistance level and the bull market resumes.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
