Pi Network’s PI token surged 40% in the past week, becoming a top 100 performer. However, a sharp increase in tokens moving to exchanges and scheduled token unlocks suggest potential selling pressure, tempering bullish predictions of a rally to $1.
The cryptocurrency **Pi Network (PI)** has seen significant gains, rising nearly 40% over the past week. This performance made it the best-performing asset among the top 100 cryptocurrencies by market capitalization.
PI’s valuation recently reached a high near $0.20 and currently trades around $0.18. The asset now ranks as the 47th-largest cryptocurrency with a market cap of approximately $1.7 billion.
A potential bearish signal has emerged as exchange reserves for PI have increased sharply. Nearly 5 million tokens were transferred to centralized platforms in a single day, bringing the total to about 427.1 million.
Market data indicates aggressive token unlocks approaching 15 million PI daily are scheduled before the end of February. Such unlocks are often viewed as a warning sign for investors as they increase circulating supply.
Contrary to these concerns, some community members foresee continued price appreciation. X user Pi Network Academy argued the asset “is warming up for another big pump,” predicting a move to $1.
The account Pi Global claimed “momentum is building, utility is expanding, and community is stronger than ever.” They questioned if PI could reach $0.50 before the symbolic Pi Day on March 14.
