Pi Network’s native currency, PI, has fallen to an all-time low of $0.35, and this is causing alarm among the crypto community. The fall is against the backdrop of a significant token unlock of 150 million PI tokens worth approximately $64 million due to be rolled out over the course of the next 30 days.
With the price continuing to drop everyday this week, the overall sentiment has turned bearish. Data from PiScan shows that unless there is a significant increase in demand, the influx of tokens into circulation could further weaken PI’s price action.
Technical Indicators Point to Bearish Trend
Technical indicators are bearish. The Aroon Down Line, which is a measure of the power of a downtrend, is 100 percent on the daily chart showing heavy selling pressure. MACD has also indicated a bearish crossover, as the MACD line moved below the signal line, a signal that’s classic that momentum lies with sellers.
Worse still, indications are that another token unlock with 276 million PI tokens might be on its way. This further alarms investors, given that an earlier unlock of 8 million tokens in May 2025 was associated with a 25 percent decline in value.
With little trading activity and lower liquidity, PI cannot even absorb such a huge supply increase.
The Risk of Whale Concentration
Concentration of holdings is also an issue. The top 100 wallets now control more than 96 percent of the circulating supply, which raises the risk of sudden price movements as a result of whale activity. Thin exchange liquidity also increases this risk.
There is a slim possibility of short-term relief. The Relative Strength Index (RSI) is 24 marginally above the 30 level that indicates oversold conditions. If RSI goes lower and buyers re-emerge, a short-term rebound towards $0.46 may be possible.
There has not yet been any public statement from Pi Network founders Dr. Nicolas Kokkalis and Dr. Chengdiao Fan. Their silence, combined with increasing uncertainty, is making investors nervous as the token enters one of its most pivotal moments so far.
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