Pi Network Lao Dốc: Price Drops Nearly 30% After Unlocking 8 Million Tokens, 13 Million Tokens More Awaiting

The Pi Network token has experienced a strong bearish trend after the recent unlocking of 8 million tokens. The unlocking event has shaken the market, with PI falling nearly 30% as traders rushed to sell off positions amid growing concerns about dilution. All eyes are now on the upcoming issuance of an additional 13 million tokens expected on May 15, which could further increase the selling pressure. UNLOCKING TOKENS HAS NEVER CAUSED MARKET VOLATILITY The chaos of the Pi network began when the unlocking of 8M tokens flooded the market with new supply, causing a rapid fall from previous highs. Previously, PI had reached a price of $1.40 during a speculative rally, only to decrease to around $1.10 after the unlock. This sudden sell-off has been exacerbated by whale transactions and trading volumes skyrocketing to an astonishing level, at one point reaching nearly 1.63 billion dollars. This unprecedented activity has alarmed investors, who are concerned that a series of unlock events could further destabilize the price of PI in this nascent phase of the mature market. PI PRICE REPORT At the time of writing, the price of PI has fallen to around $1.10 after reaching a peak of $1.40 earlier in the day, a significant drop that highlights the volatility of the current market. The trading volume over the past 24 hours has surged, with significant transactions moving millions of tokens in just a few minutes. This sharp fall not only reflects the immediate impact of the unlocking but also highlights the greater challenges in determining the price of an asset that is still in the early stages of trading on the exchange. FUTURE PROSPECTS AND COMMUNITY REACTION The cryptocurrency market is currently facing an uncertain path ahead as people eagerly await the next Pi Network unlocking event on May 15, when an additional 13 million tokens will be added to the circulating supply. Investors are closely monitoring the situation of Pi Network, with many eyes on the expected core team update on May 14 that may provide clues about future developments, possibly a listing on a new exchange or product improvements. Without significant catalysts to drive demand, analysts warn that the price of PI may continue to test lower support levels.