Pi Network's native token PI plunged to a historic low of $0.39 during Friday's Asian trading session, extending its 86% collapse from its all-time high. The token currently hovers near $0.40 amid overwhelming sell pressure triggered by 150 million PI tokens ($64 million) scheduled for release over the next 30 days. This massive unlock compounds existing oversupply issues, with circulating supply already at 7.76 million tokens and monthly unlocks continuing unabated.
Demand remains critically weak, evidenced by daily trading volumes consistently below $100 million. Limited exchange accessibility - currently restricted to OKX, Bitget, and MEXC - excludes major platforms like Binance, Coinbase, and Upbit. Previous initiatives including Pi Network Ventures' $100 million fund, .pi domain auctions, and Pi AI Studio failed to stimulate adoption, with PI notably declining during July's broader crypto bull run.
Technical indicators reveal extreme bearish signals: the Aroon Down Line sits at 100%, confirming strong downward momentum, while the MACD shows a bearish crossover. However, a double-bottom pattern suggests potential for a 324% surge to $1.67 if triggered by a Tier-1 exchange listing. Historical precedents like OMNI's 100% surge post-Upbit listing support this thesis. The RSI reading of 32.02 indicates near-oversold conditions that could enable a short-term rebound to $0.46 before the token unlock pressure intensifies.