Pi Network’s price has been under heavy pressure, sliding closer to record lows as traders brace for a large wave of new tokens set to enter circulation. The ongoing sell-off has wiped out a huge chunk of the token’s value, leaving many holders wondering whether a rebound is on the horizon or if more downside is still to come.
As of Sunday, Pi was trading around $0.1450, hovering just above its all-time low of $0.1305. From its peak, the token has now fallen by more than 90%, erasing billions of dollars in market value. The steep drop reflects a mix of weak sentiment and concerns around upcoming supply increases.
One of the biggest near-term pressures on Pi’s price is a major token unlock scheduled over the next seven days. The network is expected to release more than 82 million new tokens during this period. At current prices, that batch alone is worth over $11 million. This unlock is part of a broader release of 206 million tokens set to come online this month.
Token unlocks are often a sensitive moment for crypto assets. When large amounts of new supply hit the market without a matching rise in demand, prices tend to feel the strain. Even if only a portion of holders decide to sell, the sudden increase in circulating tokens can weigh heavily on short-term price action.
Looking a bit further ahead, Pi Network’s supply is expected to grow again in March, when the team plans to issue validator rewards. According to a recent update, the reward system’s design phase has been completed and is currently being tested, with implementation planned for next month. While some validators may choose to hold onto their rewards, others could sell, potentially adding more selling pressure over time.
Despite these headwinds, Pi Network isn’t without potential upside catalysts. One positive development is that Pi has been added to Kraken’s roadmap list. Historically, appearing on this list is often an early step before a token is officially listed on the exchange. If Pi does secure a listing on Kraken, it could be a meaningful boost for the project. Kraken is one of the largest crypto exchanges in the United States, second only to Coinbase, and a listing would likely improve liquidity and visibility for the token.
From a technical perspective, Pi’s chart still looks weak. The token recently slipped below a key support level around $0.1520, which previously marked its all-time low. It continues to trade below both the 50-day and 100-day exponential moving averages, and it remains under the Supertrend indicator, both of which point to a bearish trend.
That said, Pi is now sitting in oversold territory, with the Relative Strength Index (RSI) below 30. This suggests that selling may be overextended in the short term. While the broader trend remains under pressure, the oversold conditions could set the stage for consolidation or a short-term bounce if sentiment improves. A move back above the $0.1520 level would be an important signal that the bearish momentum is starting to fade.
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