Pi Token Dives 20% Amid Whale Accumulation and Large-Scale Token Unlocks

Pi Network's native token, PI, has experienced a notable 20% price decline over the past week, dropping to as low as $0.32 on July 12 before stabilizing at $0.3553 [1]. This downturn coincides with increased whale activity, as a single entity has accumulated an estimated 350.5 million PI tokens—valued at approximately $125 million—raising questions about the source and intentions behind the large-scale purchases [4]. The market has also been affected by a significant token unlock event, during which over 150 million PI tokens were released, further pressuring prices [2].

The absence of official statements from Pi Network’s core team—including its founders Dr. Nicolas Kokkalis and Dr. Chengdiao Fan—has contributed to growing uncertainty among investors [3]. Communications from the team have remained focused on technical updates and mining incentives, such as voluntary lock-up programs that could boost mining rewards by up to 200% [1]. However, these efforts have not addressed the recent market dynamics or whale behavior, leading to concerns over transparency and governance.

Community sentiment reflects this unease, with discussions centering on the risks posed by elevated token supply and the lack of demand-side growth. Engaged lock-ups have been implemented to stabilize the supply, but with over 3.3 million tokens locked voluntarily on August 3, it remains unclear if such measures will be sufficient [1]. Analysts have noted that without a significant increase in demand or broader institutional interest, the downward trend may continue [2].

Despite the bearish outlook, some market participants appear to view the current price levels as an opportunity. Whale activity on major exchanges like OKX and Gate.io indicates ongoing accumulation, suggesting that long-term investors may still see potential in Pi’s future [6]. However, this optimism is tempered by the lack of clarity from the Pi Core Team regarding both whale transactions and the broader strategy for managing token supply.

The situation underscores the challenges inherent in managing a community-driven, speculative asset like PI. Balancing token supply with market demand is a delicate task, and as further unlocks continue, the market will closely monitor both whale activity and the team’s communication strategy for signals of stability [1].

Source:

[1] https://www.facebook.com/photo.php?fbid=736844592562085&set=a.130****63246274&type=3

[2] https://www.bitget.com/price/pi/news

[3] https://www.binance.com/en/square/hashtag/PiCoreTeam

[4] https://www.facebook.com/manuel.guevarra.369210/

[5] https://coincentral.com/with-coinmarketcap-listing-uae-regulatory-backing-unilabs-could-even-surpass-solana-by-2028/

[6] https://bitscreener.com/coins/apertum/news