Pi Network’s PI Token Gains Momentum Amid Bullish News From OKX

Pi Network’s native token has halted the price free-falls at least for now, posting a 3-4% daily increase that pushed it to well over the psychological level of $0.15.

This rebound coincided with the overall altcoin rebound from several alts, as well as bullish news from OKX affecting the US market.

PI Bounces From Local Lows

After it was rejected at $0.20 at the end of the previous month, PI remained sideways at around $0.18 for a few weeks. It started to slowly lose value and entered a new lower range between $0.17-$0.18. A few more leg downs followed, driving the asset first to under $0.16 and then to a new three-month low of $0.146.

It tried to rebound earlier this week, but it was halted at $0.155 and driven south to under $0.15 once again. Nevertheless, the past 24 hours have been more positive for the asset, as it reclaimed that level following an impressive 4% surge.

Pi Network (PI) Price on CoinGecko

Although it remains outside the top 50 alts by market capitalization, its own has risen above $1.6 billion on CoinGecko. The token unlocking schedule for the next month is rather contradictory. The following week or so will see the release of around 5 million coins per day. However, there will be an evident uptick to more than 15 million tokens per day by the end of the month and on June 2.

The landscape will calm after June 3, which should ease the immediate selling pressure from these investors, many of whom have been waiting for a long time for their assets.