Pi Coin experienced a sharp decline of 5%, trading at $0.6149, due to security concerns regarding the upcoming token unlock event. This drop follows concerns about user security amid warnings against phishing scams from Pi Network’s leadership. Market experts attribute this downturn to bearish technical signals and anticipate further declines to $0.40, potentially exacerbated by 80% market share decline from historical highs. Analysts point to previous token unlocks in the crypto market as a catalyst for price drops, drawing parallels with similar events involving tokens such as UNI and APE. Pi Coin’s isolated trading status hasn’t impacted larger crypto markets like ETH or BTC, but financial concerns are coupled with user security anxieties regarding wallet credentials. The upcoming token unlock event presents further apprehension about increased circulation, potentially leading to more price declines. Historical data suggests that Pi Coin investors should be prepared for further downward trends in the near future, as experts warn against breaching the $0.56 level, which could result in a drop to around $0.40. A textbook inverse cup & handle pattern is emerging on the 4H timeframe, highlighting bearish momentum, with current trading below the 50MA, indicating seller dominance.