The post Why Pi Network Coin Price is Dropping appeared first on Coinpedia Fintech News Pi Network Coin holders are feeling the heat as token price drop by 9% while the entire crypto market enjoys strong gains. While Bitcoin has smashed a new all-time-high, Pi Coin keeps slipping closer to its all-time low $0.40. Many are now wondering why the Pi network coin price is dropping. Pi Network Coin Drops 9% In the past 24 hours alone, Pi Coin has dropped about 9% and now trades near $0.471, not far from its lowest level ever, $0.40. This looks worse when you compare it to the rest of the crypto market, which is all green. Bitcoin is above $118,000 and Ethereum crossed $3,000, but Pi keeps moving the other way. Even the recent Pi2Day celebration, which was supposed to boost excitement in the Pi community, couldn’t lift the price. Over the last two weeks, Pi has fallen more than 29%, showing just how deep this downtrend has become. Token Unlock Adds More Pressure One big reason behind Pi’s continued slide is the massive token unlock happening this July. Between July 8 and July 15, over 100 million PI tokens about 1.5% of the total supply will hit the market. On one day alone, 10.1 million token s will be unlocked. These unlocked tokens often end up being sold by big holders, which adds extra selling pressure when there aren’t enough buyers to balance it out. Many whales are taking profits by selling, and that weighs heavily on the price. Pi Technicals Still Look Weak The technical side isn’t offering much comfort either. Pi Coin is trading inside a clear downward channel. Each time it tries to break higher, sellers push it back down. The trading volume is also low at $19.95 million, which shows that buyers don’t have enough strength to flip the trend just yet. However, Pi Network RSI has also reflected a bearish sentiment as it is currently at 39.8 reflecting an over-sold. What’s Next for Pi Coin? For now, the risks look bigger than the chances of a sudden turnaround. With so many tokens unlocking and big holders ready to sell, Pi could easily slip back to test the $0.40 zone or even drop into the $0.35 or $0.38 range if things get worse. Until Pi sees stronger buying interest, emergency liquidity, or a big exchange listing, the price may stay stuck in this bearish phase.
