Pi Network (PI) price prediction: the bull run may have already ended, and the $10 target price will not occur.

Pi Network (PI) continues the short positions trend, with a preliminary report of 0.4465 USD during the Asian morning session today (16). Analysts have listed several reasons why its bull run may come to an end, one of which is the increase in the number of token unlocks. The community has engaged in heated discussions about the price outlook, with a general lack of optimism regarding the target price of 10 USD.

Pi coin will not reach 10 USD

Despite the pullback in the past few hours, the cryptocurrency market has continued to thrive over the past week. Bitcoin (BTC) has reached a historical high of around $123,000, Ethereum (ETH) soared 17% this week, breaking through $3,000, while Ripple (XRP) briefly surpassed $3.

Despite this, the Pi Token did not follow the overall rise. It remains in the red zone on the seven-day chart, with the current trading price below 0.45 dollars.

Its weak performance has attracted the attention of some market observers, who believe that the asset's bull run may have come to an end. Recall that the PI Token reached a historical high of about 3 dollars at the end of February, but has since declined significantly.

User pinetworkmembers supports the argument that Pi coin has no chance of experiencing significant growth during this bull run cycle.

"They predict that I am the first person hoping to see the Pi Token reach $10, but this will not happen during a bull run," he said.

They indicated that the price of Pi coin has dropped to a lower low during a higher time frame, which suggests a weak trend. This X user also pointed out that during the Bitcoin surge, the Pi coin only rose to 0.53 USD once, before falling back below 0.50 USD.

Analysts believe that the downward trend of the asset is the result of "lack of liquidity, increased unlocking volumes, low demand, low buying pressure, and the Pi Core Team (PCT) holding all control instead of accepting help from decentralized community developers."

It is worth noting that approximately 200 million Pi coins are planned to be issued in the next 30 days. This move does not guarantee a large-scale exit, but it will allow investors to sell their long-awaited assets.

(Source: PiScan)

Finally, user X believes that some people may see the collapse of the Pi coin as an "end," while others may interpret it as an opportunity for increased exposure.

Flow to Exchange

The number of Pi coins stored by cryptocurrency exchanges continues to rise. In the past 24 hours, there has been a net inflow of nearly 500,000 new coins, bringing the total quantity to over 385 million. Gate.io is leading in this regard, with approximately 181 million tokens.

Shifting from self-custody methods to centralized platforms is often seen as a bearish factor, as it increases direct selling pressure.