Pi Network’s PI token tumbled to a new all‑time low near $0.07 this week, accelerating a sell‑off that erased the $0.10 support level and pushed the asset out of the top 70 cryptocurrencies by market value. The drop was accompanied by a surge in sell‑side volume, leaving the daily RSI at an extreme reading of around 11–12 points – a level never before recorded for the token.
The breakdown came as traders braced for a large scheduled token unlock. According to on‑chain data, more than 3.1 million PI entered circulation in the latest unlock, and an additional 103 million PI tokens are set to unlock over the next month. Analysts warn that with demand thin and exchange access still limited, the influx could intensify selling pressure, especially as many early holders who waited years for tradable balances may now choose to exit.
Market observers pointed to the unlock schedule as a major headwind. Researcher Dr Altcoin highlighted that more than 775 million PI could unlock before year‑end, potentially flooding exchanges with supply if demand does not improve. Another analyst, Rizo, argued that Pi Network’s long‑term value depends on real utility, adoption, and a growing ecosystem of apps using PI, rather than short‑term price action.
Exchange availability remains a critical bottleneck. While PI trades on several platforms, Binance and Coinbase have not listed spot markets. Kraken began spot trading in March and OKX expanded access in May, but overall liquidity is still weak. This limited access amplifies price swings during supply shocks, making a sustained recovery more difficult. A slight bounce to $0.08 on July 15 offered a tentative sign of stabilization, but charts indicate that a clear break above $0.075 would be needed to signal a bottom, with $0.06 and $0.05 as possible downside targets if $0.07 fails.
