Pi Coin Suffers Significant Drop Due to Supply Surge

Pi Coin has experienced a substantial price decline, plummeting over 25% to approximately $1.10 following an increase in coin supply. This drop follows the unlocking of 8 million coins, leading to immediate sell-offs by investors concerned about future price pressure. The coin’s value previously reached $1.29 and even touched $1.40 on certain platforms. The market is anticipating further price fluctuations as another 13 million coins are set to be unlocked by mid-May. 8 million coins being unlocked has disrupted the market, leading to a drop in Pi Coin’s value.