Pi Network is currently struggling to maintain its position above the important threshold of $0.40. After a decline of 3.2% in the last 24 hours, the price now hovers around $0.384. Although there has been a gain of 5.87% over the past week, market sentiment is turning cautious. With upcoming token unlock events, traders are nervous about potential sell pressure and thin liquidity conditions. Presently, Pi’s market cap stands at $3.01 billion, reflecting a downturn of approximately 3.04%. As the market reacts to these developments, participants should closely monitor the price action and market sentiment to gauge the potential direction of Pi Network in the near term.