Is Pi Network (PI) Ready to Skyrocket or Just Another Crypto Mirage? Find Out Now!

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TL;DR

  • Pi Network (PI) took a little bounce in the last 24 hours—let’s see if it holds, shall we?

  • The Pi token has been enduring some heavy unlocks, but the pace is finally slowing down after mid-May—could this be the reprieve investors need?

PI on the Move

After what seemed like an eternity of price drops, Pi Network (PI) decided to throw a party and managed to rise by a staggering 6.5% in the past 24 hours. Yes, 6.5%! It’s now floating around the $0.61 mark (according to CoinGecko, because we trust them, right?). Now, don’t get too excited—it’s still far from the moon, but at least it’s not in the gutter anymore.

In fact, PI has outperformed the likes of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) in the last day, which really says something when those cryptos are just… meh. But let’s not get ahead of ourselves here, the crypto game is never predictable. Some enthusiasts, perhaps a little too optimistic, have declared it “time for a pump,” aiming for the lofty target of $5. Yes, $5! A price surge of that magnitude would be… a miracle, but hey, miracles happen, right? 🤷‍♂️

Even MOON JEFF (who we can only assume is an expert in crypto forecasting) agrees—he’s waving the bullish flag, claiming there’s someone out there buying up PI like it’s a Black Friday sale. Does this mean we’re headed for a thrilling rocket ride? Only time will tell, my friends.

Meanwhile, Pi News (an account dedicated to all things Pi) is waving their own flag, declaring that PI could just *explode* any minute now. Why? Well, because the crypto market is as unpredictable as a toddler with a sugar rush. They referenced ALPACA, a token that shot up 2,000% before it came crashing down just as quickly. Ah, the sweet, sweet chaos of crypto! 💸

Unlocks to Cool Down

Let’s talk about those pesky unlocks. Over the past few weeks, Pi Network has been unlocking tokens like it’s Christmas morning, with over 11 million coins released on April 30 alone. You can bet that this has been a major drag on the price of PI—when everyone’s rushing to cash out, well, the price has no choice but to follow suit. The more tokens released, the greater the selling pressure. It’s basic economics, folks.

But fear not, my weary crypto comrades—relief is on the horizon. After May 8, token releases will slow down, with the number of tokens dropping below 6 million by the end of the month. The end of the chaos, perhaps? Who knows, the world of crypto has a way of throwing curveballs.

As of now, Pi Network’s circulating supply sits just shy of 7 billion, and guess what? A hefty 70% of that is still locked up in mining rewards. So yeah, there’s a lot of potential here, but also a whole lot of waiting. Tick-tock, tick-tock. ⏳

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2025-05-01 14:20