Pi Network’s native token crashed 15% Monday, hitting a fresh all-time low as holders rushed to sell ahead of a large scheduled token unlock. The selloff extended a weeks-long slide that has erased more than half the token’s value since early June.
The price drop came as on-chain data flagged an upcoming release of previously locked PI tokens. When a large volume of tokens becomes available, it often creates selling pressure: early backers, miners, or team members can finally move coins, and many take profits – or cut losses – before the unlock even happens.
Pi Network trades at roughly $0.82 at writing, down from $0.97 late Friday. The token has now lost 62% of its value since a brief rally in May.
Monday’s move was the steepest single-day drop since April, when PI shed 20% after a similar unlock announcement. The pattern is familiar: anticipation of increased supply tends to drive prices lower before the actual event, as traders front-run potential selling.
The broader altcoin market was mixed, with Bitcoin flat and Ether down 1.2%. The fact that Pi Network’s slump happened on a quiet day for crypto highlights the token-specific nature of the selloff.
Pi Network’s project remains in its so-called enclosed mainnet phase. Users mine coins from phones but cannot freely trade them on external exchanges. The exact number of tokens set to unlock and the date of release have not been disclosed in the project’s public communications. However, third-party trackers estimate that hundreds of millions of tokens could become eligible in the coming weeks.
For now, the key catalyst is simply the unlock calendar. If selling materializes after the event, PI could test lower support levels near $0.70. If the selloff is already priced in – as some traders argue – a relief bounce could follow. The only concrete watch item is the official unlock date, which the team has not yet announced. Until then, short-term volatility is likely to remain elevated.
Pi Network’s PI falls 15% to record low ahead of locked PI token release
Pi Network price fell nearly 15% today as investors sold ahead of a significant token unlock, pushing the token to a new all-time low and intensifying negative market sentiment.