PI Coin Price Target $0.60 — Could Slower Supply Unlock the Next Bull Market?

Pi (PI) announced that mining rates would increase since last month’s token allocation target wasn’t reached. This slower release of circulating supply could support a more bullish price outlook for Pi Coin.
One way to boost mining production is through token lock-up via the Pi app. Users can potentially increase their mining rates by up to 600% depending on the lock-up period. If many miners choose this option, it could significantly reduce circulating supply and support upward price pressure.
According to PiScan, token releases will sharply decline starting July 11, with only 10.5 million PI being unlocked—about half of the 19.4 million PI set to be released tomorrow.
On the 4-hour chart, PI rebounded from a key support level at $0.4790. After the anticipated “Pi Day,” the price drop has slowed. PI also broke out of a descending wedge pattern, suggesting a bullish reversal, with a first price target at $0.5900.
A new staking program was introduced to allow holders to lock tokens and support their favorite ecosystem apps, but since there’s no direct reward for staking, adoption might remain low.
If the price falls below $0.4750, it could invalidate the breakout and lead to a retest of historical lows.