Pi Network has experienced significant price volatility recently, with its token price dropping sharply from a peak near $2.98 in February 2025 to approximately $0.75 by late May 2025. This steep decline followed a period of heightened market anticipation around announcements made at the Consensus Summit in mid-May, where Pi Network’s leadership, including Nicholas Kalallis, engaged with the crypto community. Despite hopes for stimulating news, investor confidence waned, and the token price continued to fall.
The price drop coincided with technical signals showing a slowing of selling momentum; however, a bearish outlook persists. A substantial influx of over 2 million Pi tokens onto exchanges within a 24-hour window suggested that many investors were preparing to sell, pressuring the price further. Technical analysis highlighted the formation of a bearish flag pattern, indicating a potential continued downtrend, with support levels near $0.658 and possible lower targets around $0.55.
Compounding the pressure on Pi’s price are large-scale token unlocks unfolding this week. Nearly 72 million new tokens are slated to enter the market within days, contributing to oversupply concerns given the current circulating supply of over 11 billion tokens against the maximum 100 billion cap. Historical trends show that such influxes of supply without corresponding demand often lead to price depreciation. Market experts expect the token’s price trajectory to depend significantly on future announcements and the market’s ability to absorb new supply.
In summary, while short-term technical analysis warns of possible further declines, the price could stabilize or modestly improve if positive developments arrive. Nevertheless, the immediate outlook remains bearish, with downside risks elevated due to the large token unlock schedule and increased selling pressure.