Pi Network Faces 17.78% Drop Amid 276 Million Token Unlock

As July 2025 begins, the Pi Network is at a crossroads, facing both opportunities and challenges. The community has developed over 7,900 AI-powered applications, demonstrating a surge in developer engagement. However, the token's price action reflects growing caution. With only 7 billion tokens in circulation, the rich list is dominated by early adopters and whales, with the top 100 holders owning a staggering 96.37% of the total supply. This extreme concentration poses a significant risk to the network's stability and decentralization.

Adding to the challenges, a scheduled 276 million PI unlock, which accounts for 3.7% of the current supply, may exert short-term downward pressure on the token's price. This unlock could trigger a sell-off by early adopters and whales, leading to a temporary decrease in the token's value. The key question remains: can the utility and community strength of the Pi Network outweigh the threat of supply inflation?

Social media buzz around the Pi Network has been inconsistent, with spiky yet reactive traction in late June. The social dominance metric peaked briefly but struggled to maintain above-average levels, indicating that retail interest is news-driven rather than sustained. With a current social dominance of 0.273%, Pi lacks the consistent community buzz seen in breakout rallies. This undermines the likelihood of organic upside unless coupled with strong development or listing catalysts.

Currently, the Pi Network is priced at $0.4861, down 0.1% in one day and 17.78% in seven days, indicating a sharp bearish shift. The Relative Strength Index (RSI) at 34.67 suggests that the asset is approaching oversold territory, implying limited downside but not ruling it out. The Bollinger Bands show the price hugging the lower band, with resistance at $0.586 and $0.64, and strong support at $0.40. Given the upcoming token unlock and waning volume, bulls face a challenging environment. If Pi breaks below $0.40, bearish momentum could intensify. However, any bounce from this support zone may lead to a short-lived recovery toward $0.50–$0.586.

The price drop is likely driven by profit-taking, whale dominance, and anticipation of the 276 million token unlock, which will increase the supply. While developer activity is strong, market pricing reflects concerns over centralization and unlock risks. It is unlikely that Pi will hit $0.60 in July unless there is a major listing or bullish catalyst, as resistance at $0.586–$0.64 remains a key hurdle.