The Pi Network is struggling to maintain its position above the critical $0.40 level, experiencing a 3.2% decline from yesterday’s trading to hover around $0.384. Despite a 5.87% increase over the week, market sentiment remains cautious as the token encounters mounting sell pressure from upcoming unlock events and thin liquidity. The market cap of PI now stands at $3.01 billion, reflecting a 3.04% decrease. Additionally, the 24-hour trading volume is at $66.44 million, indicating minimal inflows to counterbalance potential selling pressure.
Reasons for the Decline in PI Price
One of the main factors contributing to the decline in PI price is the impending unlock of over 167 million tokens, representing about 2.1% of the circulating supply, scheduled within the next 30 days. Notably, 10 million tokens are set to be unlocked on August 16. Exchange data reveals that 411 million PI tokens, equivalent to 5.2% of the total supply, are currently held on trading platforms, the highest level since February 2025. This accumulation raises concerns about increased liquidation, especially as early adopters sell mined tokens in the market.
With a daily trading volume of only $66.44 million, liquidity may be insufficient to absorb these tokens without causing price slippage. Short-term traders are seen exiting positions near the $0.40 resistance level, indicating skepticism about the near-term prospects of PI’s recovery.
Pi Network Price Analysis
The PI price failed to sustain its recent breakout above $0.40 and retreated to test the 23.6% Fibonacci retracement level at $0.375. This level now serves as a short-term support, with bears targeting $0.335, the June low, as the next downside objective if the support level is breached.
Technical indicators are sending mixed signals. The RSI-14 reading of 43.04 indicates weakening momentum, while the MACD at 0.0168 confirms a bearish bias. Price action also shows consistent selling pressure around the 50-day SMA at $0.412, a level that PI has struggled to reclaim convincingly since July.
The $0.375–$0.40 range is critical. A close above $0.40 could trigger a relief rally towards $0.412 and potentially $0.52 if buyers regain control. Conversely, a sustained drop below $0.375 may accelerate declines, pushing the price towards $0.335.
Frequently Asked Questions
The immediate support level is at $0.375, with a stronger floor at $0.335 if selling pressure intensifies.
A sustained close above $0.40, followed by a breakout above $0.412, would negate the current bearish outlook.
At present, the price of 1 PI token is $0.3829, with a daily change of -3.2%.
