Pi Network's Token Unlocks Test Community Trust and Market Resilience

Pi Network (PI) is currently facing a challenging period amid a series of token unlocks that could potentially pressure the token's price and market liquidity. Over the next several months, the network is set to unlock approximately 620 million tokens, with the largest unlock expected in December 2025 at 170 million tokens. This follows a previous unlock of 337 million tokens on July 15, 2025, which triggered a 25% drop in the token's price. Analysts and community members are closely monitoring these events due to the fragility of the token’s demand and liquidity.

In addition to the scheduled unlocks, Pi Network is also dealing with daily token migrations, where 3 to 5 million tokens are added to the circulating supply. This continuous inflow has raised concerns about the market's ability to absorb the increased supply, especially in the absence of strong utility-driven use cases or significant partnerships. The project has introduced the Pi App Studio, a no-code application development platform, as a potential avenue for real-world utility, but adoption has been limited thus far.

The current circulating supply of Pi Network is estimated at around 1.7 billion tokens, and the upcoming unlock of 1.6 billion tokens over the next 12 months will add to the circulating supply. However, the unique lockup mechanism in Pi Network may help mitigate the inflationary impact. If a large portion of token holders relock their tokens after previous unlock periods, the effective increase in supply could be significantly reduced. Estimates suggest that the actual inflation rate could drop from an initial 95% to as low as 1% if most token holders choose to relock their assets.

Despite the short-term volatility, long-term projections for Pi Network remain mixed. According to technical indicators, the 14-day RSI stands at 46.51, indicating a neutral market sentiment. The Fear & Greed Index is at 53, which also suggests a neutral stance, neither overly bullish nor bearish. Short-term price targets show a mixed outlook, with potential price gains in the coming weeks, but the overall trend remains bearish. For example, the price is expected to reach $0.354781 by September 16, 2025, representing a 1.98% increase from the current price. However, the forecast for October 2025 suggests a 17.32% potential short-term return as the price could drop to $0.265477.

Long-term price predictions are more optimistic. By 2030, Pi Network is projected to trade within a range of $0.742144 to $1.512288, representing a potential ROI of 334.69%. This would require significant adoption and utility development to support such a price increase. The success of Pi Network will largely depend on its ability to attract broader usage, secure listings on major exchanges, and establish partnerships that increase demand for the token.

The upcoming months will be critical for Pi Network as the project transitions into a more open mainnet and seeks to establish itself in the competitive cryptocurrency market. The massive unlock event is a test of both the project's economic design and the trust of its community. If Pioneers collectively demonstrate strong confidence in Pi's future by locking their tokens, the network may be able to maintain scarcity and potentially drive the token's value higher. Conversely, if the market is flooded with newly unlocked tokens, the result could be prolonged price volatility and reduced confidence in the project.