Haciyev Reşit 
One of the most talked-about projects in the crypto market recently, Pi Network (PI), has faced heavy selling pressure. The token lost 45% of its value in the past 24 hours, dropping to $0.18. Following a partial recovery, PI is currently trading around $0.35.
Analysts point to token unlocks and low liquidity on exchanges as the main reasons behind the sharp decline.
Token Unlocks Intensify Selling Pressure on Pi Network
Pi Network’s price movements have entered a strong downtrend, largely driven by the impact of recently unlocked tokens.
- Maximum Supply: 100 billion PI
- Current Circulating Supply: 8 billion PI
- Locked Tokens: Approximately 5 billion PI
According to PiScan, 135.7 million tokens were unlocked in the past 30 days alone. In a recent event, around 163 million PI tokens (worth $60 million) were released into the market. This influx has further increased the supply, intensifying downward pressure on the token’s price.
Daily Token Unlocks and Low Liquidity Weigh on Pi Network
Approximately 1.6 million PI tokens (around $4.5 million) are entering the market daily. This continuous increase far exceeds demand, leaving Pi vulnerable to price declines.
Weak Liquidity Makes Price More Fragile
Order books on exchanges where Pi Network is traded are notably thin. The lack of sufficient buyers prevents the market from absorbing large token releases, causing sharp price drops with each unlock.
Project Delays and Community Reaction
The Pi Network team has faced criticism for slow progress on critical developments, including KYC processes, the V23 upgrade, and achieving full decentralization. These delays have eroded investor confidence.
Community figure Mr. Spock has publicly urged the team to take “bold steps,” suggesting measures such as:
- Initiating a buyback and burn program
- Permanently directing all transaction fees to token burns
- Redesigning the mining model (either ending it entirely or rewarding only users who contribute to the ecosystem)
According to Spock, without aggressive deflationary measures, it will be difficult for Pi Network to establish a sustainable economy.
Current PI Price
At the time of writing, PI is trading around $0.29. Analysts note:
- A drop below $0.27 could push the price down to $0.20.
- For an upward recovery, strong buyer support and positive ecosystem developments are required.
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