Pi Network Faces Pressure as Price Drops Nearly 8% — Here’s Why
Pi Network (PI) has seen its price fall by 7.96% in the last 24 hours, underperforming the broader crypto market’s 3.6% dip. While the project continues to attract attention with its large community and developer initiatives, several challenges are weighing on investor sentiment.
Why PI is Struggling
1. Token Unlock Pressure
Over 167 million PI tokens (worth more than $60 million) are set to be released into circulation over the next 30 days. A key milestone is the 10 million tokens unlocking on August 16.
Currently, centralized exchanges hold a record 409 million PI, with Bitget and Gate.io accounting for 70% of that total. With PI’s daily trading volume at around $61M, the market fears that this new supply could outpace demand and push prices lower. Historically, PI has dipped 2–5% during major unlock events.
2. Technical Breakdown
From a charting perspective, PI has slipped below the $0.38 support level, a critical Fibonacci retracement zone, and is now testing the 200-day EMA around $0.335.
The RSI currently sits near oversold territory at 43.5, while the MACD shows weakening bullish momentum. If PI closes below the $0.335–$0.35 support zone, it could trigger further automated sell orders. Traders are closely watching whether Bitcoin’s dominance (currently 59.02%) continues to pressure altcoins like PI.
3. Ecosystem Growing Pains
Despite launching its Hackathon 2025 with a prize pool of 160K PI and partnering with ERC-3643 for RWA tokenization, Pi Network still struggles with migration delays and KYC bottlenecks.
Only 7.8 billion PI of the total 100 billion supply is circulating, leaving questions about how future unlocks will be managed. While developer activity is growing (with over 21,000 apps reportedly building on Pi), adoption concerns linger.
Community Sentiment: Optimism vs. Anxiety
Pi’s global community remains divided:
1. Optimists point to a possible technical breakout, with some traders spotting a falling wedge pattern that could lead to a bullish reversal.
2. Skeptics highlight the looming 630M+ PI tokens set to unlock by August, warning that supply inflation may overwhelm demand.
3. Developers continue to build, with 9,120 AI-powered apps created via Pi App Studio. However, daily usage metrics and transaction volumes remain undisclosed, fueling doubts about real-world traction.
What’s Next for PI?
Looking ahead, analysts are watching two key events:
- The July 29 token unlock of 132M PI, which could add more selling pressure.
- Whether PI can defend the 200-day MA at $0.483. A sustained move above $0.40–$0.50 would boost bullish sentiment, while a break lower risks further downside.
At present, PI’s RSI (43.6) and flat MACD suggest indecision. The next 10 days could be critical in determining PI’s medium-term direction.
Pi Network continues to attract builders and a loyal community, but short-term risks from token unlocks, liquidity concerns, and delayed migration remain high. Until the supply schedule is better managed and major exchanges like Binance or Coinbase list PI, investors may see continued volatility
How Pikka helps
- Instead of being stuck waiting on token unlocks or exchange listings, traders can use Pikka to quickly convert their available crypto (Bitcoin, USDT, Ethereum, etc.) into instant Naira — at the best market rates, with zero stress.
- With real-time, transparent exchange rates updated daily on the app, Pikka gives traders clarity and control. Instead of speculating on unstable tokens, users can lock in their value and withdraw directly to their bank accounts in seconds.
- Pikka removes bottlenecks. With a fast, user-friendly app, anyone can sell crypto, receive Naira instantly, and avoid the long wait tied to exchange approvals or complex migration processes.
The Bigger Picture with Pikka
While Pi Network still works through unlock schedules, exchange listings, and ecosystem bottlenecks, traders need a way to access real cash, right now.
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Pi Network may deliver long-term value, but in the short term, risks remain high for holders. With Pikka, Nigerian traders can sidestep volatility, bypass delays, and convert crypto to Naira instantly — all with trust and transparency.
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