Pi Network’s PI Token Surges 20% on Lower Daily Unlocks
Pi Network’s native PI token recently rebounded by 20%, climbing from a three-day low of $0.335 to around $0.40. This surge follows several weeks of bearish pressure, during which PI tumbled to an all-time low and lost roughly 90% of its value since February’s peak. A broader market upswing led by Ethereum breaking above $4,000 fueled the rally in altcoins, including PI. Data from PiScan shows that daily PI token unlocks have eased to an average of 5.6 million PI, down from 7–8 million in June and July, with only one day in the next month expecting near 10 million unlocks. This reduced sell pressure may support further gains, though traders warn the move could still be a dead cat bounce.
Bullish
The 20% bounce in PI token against a backdrop of lighter daily unlocks suggests a reduction in immediate sell pressure, which is typically bullish for price stability. Similar supply-driven rebounds have been seen in other tokens when token unlock schedules slowed, allowing buy-side momentum to dominate. Short-term traders may capitalize on the rally spurred by Ethereum’s broader market strength, while long-term holders will watch whether reduced unlock volumes can sustain demand. However, the possibility of a dead cat bounce remains if broader market sentiment weakens. Overall, the lower inflow of new PI supply combined with an altcoin market rally leans toward a bullish outlook, provided no fresh bearish catalysts emerge.