Key Highlights
- Pi Coin fell over 17% in a day, extending its weekly losses to 28%, while its market capitalization dropped below $1 billion for the first time.
- Upcoming token unlocks and weak demand are increasing selling pressure, with 127.5 million PI tokens set to enter circulation over the coming weeks.
- Community frustration is growing, with some Pi holders criticizing the Pi Core Team over delayed ecosystem growth.
Pi Coin (PI) price fell by over 17% today as selling pressure intensified across the market. At the time of writing, the token is trading for $0.08, down from a daily high of above $0.09.
At the same time, trading activity is recording about 242% over the last 24 hours, pushing the volume to over $26.72 million. This suggests that traders are active in the market, but the drop indicates that they are selling their positions.
This new decline has pushed the price down 28% over the past seven days, while its market value has fallen to $875 million for the first time since Pi Network launched its token in February 2025.
What is pulling the token’s price down today?
Traders are preparing for the network’s upcoming token unlock events. According to data from PiScan, about 127.5 million PI tokens are expected to enter circulation in the next 30 days.
This is adding some pressure to the token’s price because more tokens are entering the market without enough buyers. As a result, supply is greater than demand. Many holders also appear to be selling early to avoid further losses, adding to the downward move.
Recent updates fail to lift market confidence
Recent updates from the Pi Network team have not been enough to change market sentiment.
The project recently introduced new developer tools, storage improvements, and verification services during its recent Pi2Day announcements held from June 28 to July 7. However, many traders are still focused on issues, including the limited listings on major crypto exchanges and slow growth in real-world use cases for the token.
Pi community voices growing frustration
The price drop has also led to new criticism from some members of the Pi community. Several users on X blamed the Pi Core Team for not doing enough to build utility around the token. They are also concerned about whether the ecosystem is growing fast enough to support the increasing number of PI tokens entering the market.
One community member known as Shahryar pointed to Workforce, a project launched on the Pi Network in 2021, saying it was later put up for sale in 2025 after failing to attract enough users. The user argued that projects created on the network need stronger support from the Pi Core Team if they are to succeed and help increase activity across the ecosystem.
Another user, cofeedosa, called on the core team to break its silence and launch more projects that could increase demand for PI. “If milestones such as PIDEX continue to be delayed, market confidence may weaken further,” the user said.
Another community member, Dao World, said building more utility may not be enough if selling pressure continues. “If the price crashes and people begin leaving, utility becomes meaningless even if it is eventually built,” the user said. The user added that measures such as token buybacks or token burns could help reduce the number of coins in circulation and support the price during weak market conditions.
Current price action still favors sellers
Looking at the price chart on the daily timeframe. It shows that PI has fallen below the key $0.11 to $0.12 support area that had held for several weeks. The token is also trading below its 20-day, 50-day, and 200-day exponential moving averages, which confirms that the downtrend is still in place.
The Relative Strength Index (RSI) is currently at 5.85, which means the token is at an extreme oversold level. Despite this, current price action suggests the token might continue to sell.
Crypto analyst Dr Alcoin said on X that the token may have two possible paths to recovery. It either needs to secure listing on major exchanges such as Coinbase and Binance to absorb new token supply, or introduce a token buyback and burn program to reduce the number of coins in circulation.
However, this could have a mixed effect. While the announcement itself could be bullish because it would increase Pi Coin’s visibility and access, the actual listing could trigger heavy selling.
This is because many early holders who have been waiting for a major exchange listing may decide to sell their tokens to lock in profits or exit their positions. As a result, the excitement surrounding the listing could be followed by renewed selling pressure, causing the price to move lower in the short term.
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