Pi Coin Struggles at $0.70 as Token Unlock Sparks Sell-Off Fears
Pi Network’s native token has dropped more than 50% in the past week, now trading NEAR $0.70. The decline follows concerns over today’s scheduled release of 5.7 million PI tokens, which could intensify selling pressure.
Exchange data shows Pi Coin holdings have hit a record 397 million tokens, indicating potential oversupply. Traders worry the protocol’s controlled token release system may backfire as newly unlocked tokens enter the market.
The network’s gradual supply expansion—intended to benefit users—now risks becoming a major weakness. With no major exchanges currently listing PI, the token faces increased volatility and liquidity issues.