Pi Coin is trading near $0.7411 as 263 million tokens unlock in June, followed by 233 million in July and 132 million in August, totaling over 1.5 billion tokens over a year.
More Pi tokens are moving to exchanges, indicating potential sell pressure as demand weakens, leaving Pi vulnerable.
Concerns about insider activities, privacy issues, and delayed utility rollout have hurt market sentiment, with recent token unlocks and insider activities eroding confidence.
The Ichimoku Cloud analysis shows bearish momentum dominating, with key resistance levels at $0.7950 and $0.8692.
Pi is currently trading at $0.7368, down 2.12% with a 24-hour volume of $97.52 million and a market cap of $5.34 billion, around 55% below its May high of $1.6760.
Analysts predict continued downside risk for Pi Coin in the near term unless it reclaims $0.7950 to revive bullish interest.
With bearish technicals, large unlocks, and ongoing exchange flows, Pi Coin faces pressure, with $0.7411 being a critical support level.
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