Pi Coin Plunges to Record Low amid Lockup, KYC Delays
Pi Coin has plunged nearly 90% from its February peak, tumbling to a record low of $0.322. The decline accelerated after the Pi Network announced on August 2 a mandatory token lockup policy offering up to 200% mining boosts. Although the lockup covers both pre- and post-migration tokens, widespread KYC and Mainnet migration delays have prevented many users from accessing or transferring their Pi Coin holdings. Unreleased ecosystem tools like Pi Domains and Pi App Studio, along with recurring technical bugs, have sapped confidence further.
A scheduled unlock of 160 million tokens (about 2.1% of the total supply) later this month and a reduced mining rate are expected to add downward pressure. Technical indicators on TradingView—an RSI of 23.87, MACD below its signal line, and a negative SMI—underscore persistent bearish momentum. Traders should watch how the Pi Network addresses user backlash and technical hurdles, as volatility remains high.
Bearish
The news of Pi Coin’s record low price, mandatory lockup, KYC delays, and impending token unlocks highlight structural issues in Pi Coin’s ecosystem. In the short term, mounting sell pressure from locked and soon-to-be-unlocked tokens, combined with technical indicators signaling weakness, is likely to push prices lower and discourage new entrants. In the long term, persistent KYC backlogs, absent dApp rollouts, and ongoing technical bugs could undermine user confidence and limit network adoption, sustaining bearish momentum. Unless the Pi Network delivers tangible ecosystem tools, expedites KYC verification, and stabilizes token supply, Pi Coin may find it challenging to reverse course.