Pi Network's Token Dips 10% as Supply Unlocks and Bearish Sentiment Weigh on Price

Pi Network’s native token, Pi (PI), has experienced a significant price correction, declining approximately 10% over two trading sessions to trade near $0.44 as of July 25, 2025. The decline has pushed the coin within 9% of its historical low of $0.40, with technical indicators and on-chain data highlighting growing bearish sentiment. The price breach of the $0.45 support level has raised concerns about waning buyer interest, compounding pressure from broader market weakness and elevated supply flows [1].

Market data reveals PI’s current valuation at $3.4 billion, securing it at 35th in cryptocurrency rankings. However, 24-hour trading volume has contracted by 38% to $60.8 million, signaling diminished liquidity and investor activity [1]. On-chain analytics further underscore the bearish shift: PiScan reports a net outflow of 788,000 PI from centralized exchange (CEX) wallets in the past 24 hours. Meanwhile, the Pi Foundation’s address, “Pi Foundation 2,” sold nearly 7.96 million tokens during the same period, suggesting ongoing distribution [1].

The bearish momentum is compounded by scheduled token unlocks. Starting July 4, 304.7 million PI—valued at $152 million—entered circulation over 30 days, with the largest single-day release occurring on that date. A further 10.8 million tokens are set to unlock on July 28, marking the biggest one-day release in the coming month. These unlocks have triggered immediate selling, as evidenced by 704,237 PI deposited into CEX wallets within 24 hours. Gate.io alone holds 194 million of the 401 million PI on exchanges, amplifying concerns about liquidity absorption [1]. Analysts note that such inflows to exchanges often precede price declines as traders seek to lock in profits before fresh supply enters the market [1].

Technical indicators reinforce the downward trajectory. The 4-hour RSI for PI has fallen below 50 to the high 30s, a bearish signal, while the MACD oscillator has dipped below zero with expanding red bars, indicating accelerating sell momentum. The price’s close below $0.45 has exposed critical support levels at $0.437 and the $0.40 historical low. A decisive break below $0.437 could trigger tests of $0.420 or worse, with bulls needing a sustained rebound above $0.45–$0.46 to regain control [1].

Despite the bearish outlook, some models suggest a potential rebound to $0.49–$0.51 if buyers reclaim the $0.45–$0.46 range with strong volume. However, current on-chain flows and market breadth favor further downside, with the $0.43–$0.45 zone poised to test sellers’ resolve in the near term [1].

Source: [1] [title: Pi Network News: Price Dips 10%, Why Is Market Sentiment Bearish?][url: https://coinmarketcap.com/community/articles/6883c874b2065a0270315dfb/]