Pi Network (PI) Crashes to New Low as Large Token Unlocks and Exchange Inflows Threaten More Selling
Pi Network’s native token PI has plunged to new lows — intraday declines from $0.29 down to $0.17 were reported, pushing PI’s market capitalization below $1.5–$2.5 billion at different reporting times and placing it near the top-75 by market cap. The sell-off has coincided with broader market weakness (BTC and ETH pulling back), rising exchange balances (a record ~446 million PI at one point, with nearly half on Gate.io), and a wave of scheduled token unlocks. Combined coverage indicates roughly 137–150 million PI will unlock in the coming 30 days (averaging ~5 million/day), with specific large release dates that could concentrate selling pressure. Technical indicators are mixed: PI’s RSI moved from deeply oversold (<30) toward the high 20s–upper 30s (around 29 → ~38), suggesting potential for a short-lived rebound but not signaling a sustained recovery while unlocked supply hits markets. Community reaction is split — some traders view dips as buying opportunities and are adding positions, while others remain skeptical of the project’s long-term adoption. For traders: expect heightened volatility around scheduled unlocks and exchange inflows; monitor PI unlock calendars, on-chain exchange flows, and BTC/ETH direction for correlation; treat RSI-based bounces cautiously and apply position sizing or stop-losses until supply-pressure risks abate.
Bearish
The combined reports point to a predominantly bearish near-term outlook for PI. Key drivers: large scheduled token unlocks (137–150M over ~30 days) will increase circulating supply and likely translate into selling pressure, record exchange balances concentrate tokens where they can be sold quickly, and broader crypto market weakness (BTC/ETH pullbacks) lowers risk appetite. Although RSI readings moved out of deeply oversold territory (raising the possibility of short-lived bounces), that technical relief does not counteract imminent unlock-driven supply pressure. Trader behavior—some buying the dip, others exiting—adds to short-term volatility but does not remove downside bias while significant unlocks remain. Over the longer term the impact depends on adoption and token sink mechanisms; absent clear demand growth or burn/lockup mechanisms, repeated unlock schedules suggest persistent downward pressure until net demand outpaces newly unlocked supply.