Pi Network Token Struggles Amid Bearish Trends and Token Unlocks

Pi Network's native token is facing significant downward pressure, currently trading at $0.4710 after a 2.7% drop overnight and a 14.7% weekly decline. The asset, with a market cap of $3.59 billion, recorded $82.73 million in trading volume as sell-side activity intensified.

The recent token unlocks have fueled the correction, with 270 million Pi entering circulation and $2.8 million worth of tokens hitting exchanges. Technical indicators show a bearish outlook—the RSI at 34.94 signals nearing oversold conditions without bullish divergence, while the price action clings to the lower Bollinger Band at $0.4708.

Despite a 0.93% increase in the mining rate indicating network growth, the prospect of reaching $1 by 2025 now seems more speculative. Traders are watching for either a volatility breakout from the tightening Bollinger Bands or further declines toward support levels.