Pi Coin is plummeting, and the downturn shows no signs of slowing. Once regarded as one of the top 10 potential altcoins, it has now dropped to the 30th position, hitting a new low of $0.77 in the past 24 hours. This represents a sharp decline of 70% from last month's peak and nearly 20% in just one week.

Currently, Pi is struggling to maintain the $0.8 level, and analysts are not optimistic. Cryptocurrency traders warn that if the price continues to fall, it could drop to $0.6, which is the last critical support level before a deeper collapse. Investors hoping for a recovery are now facing increasing instability.

Worse yet, Pi Network is about to unleash a massive wave of tokens into the market. According to data from PiScan, over 105.96 million Pi Coins worth approximately $85 million will be unlocked in the next 30 days. The largest release is scheduled for April 3, when 6.8 million tokens will flood the market in just one day.

In the next year, 1.6 trillion Pi Coins will be released to the market. If major exchanges don't start listing or demand doesn't increase, this massive influx of new capital could lead to further price declines.

The trading volume of Pi has decreased by 54.46% in just one day, indicating that investors are quickly losing interest. Pi's market capitalization has fallen to $5.62 billion, a significant drop from before.

Although some traders still hope for a recovery, the combination of falling prices, new token influxes, and weaker demand suggests that Pi Coin may face a difficult phase before any recovery occurs.