PI Token slides toward ATL as unlocks near and key supports break
PI Token is trading near all-time low territory despite Pi Network’s continued gaming and protocol updates. After broader market weakness, PI fell to about $0.136, its lowest since February, following a multi-week selloff. The token has dropped roughly 22% since last month and is moving closer to the prior ATL around $0.1312.
Price action highlights lost supports: $0.18 and $0.16 have reportedly been breached, with earlier resistance near $0.20 failing multiple times. The article also flags an unlock risk: PiScan data estimates about 5.4M PI tokens scheduled for release over the next month, but several specific days could unlock 10M+ tokens (including a 16M day), which may intensify immediate selling pressure.
On the ecosystem side, Pi Network and CiDi Games (a Pi Ventures portfolio company) announced new “Pioneers” games already made available: Coin Whack, Fruit Stack, Gemnova, and RainbowCubes. The Pi Core Team also deployed protocol update v23, while v24 was expected by June 2 but lacks official confirmation.
For traders, this mix of PI Token near-ATL weakness, support breakdown, and upcoming unlock timing suggests risk of further downside in the short term even as positive headlines (gaming/protocol) emerge.
Bearish
The article is bearish for PI Token because it links near-ATL price weakness with both technical damage (loss of $0.18 and $0.16 supports) and a foreseeable supply catalyst (10M+ PI unlock days, including a 16M unlock). Even though Pi Network and CiDi Games announced new Pioneer games and the protocol update v23, the market reaction described is consistent with a “sell the news” dynamic seen in past crypto events: positive ecosystem updates often fail to offset immediate selling pressure when unlock schedules create incremental circulating supply.
Short term: traders may expect continued volatility and downside attempts as unlock dates approach and resistance (around $0.20) remains untested successfully.
Long term: if gaming adoption and protocol progress translate into sustained demand, the selloff could eventually stabilize. However, without confirmation for v24 timing and with recurring unlock-induced supply, the balance of probabilities still favors further weakness for PI Token rather than a quick recovery.