Pi Network’s PI Token at Critical Juncture: Token Unlock and Technical Issues Threaten Further Decline

Pi Network's native token PI is hovering NEAR its all-time low of $0.40, down 3% in the last 24 hours and 17% over the past month. The project faces a critical test in August with the release of 160 million PI tokens, representing 2.1% of the total supply, which could intensify selling pressure.

Technical challenges are adding to the network's woes. The wallet's new purchase feature is malfunctioning, charging users without delivering tokens. Fiat integration through Onramper and Banxa has been delayed until late August, though TransFi is providing temporary access.

Since the open mainnet launch in February, Pi has plummeted 84% from its peak of $2.80. Market observers are closely watching to see if the network can withstand the dual pressures of increased token supply and ongoing operational hurdles.