Pi Network Price Drops Near Key Support as 127.5M Token Unlock Raises Selling Pressure

Pi Network price slipped 3.80% over the past 24 hours to around $0.0829, extending a month-long decline that has erased nearly 30% of the token’s value. Despite the continued weakness, Pi remains about 17% above its July 14 all-time low of $0.07072, suggesting buyers are still defending key support levels.

The broader cryptocurrency market also traded lower, with total market capitalization falling 0.94% to $2.19 trillion. According to Coinglass, more than 83,000 traders were liquidated during the period, with total liquidations reaching $301.33 million. Meanwhile, SoSoValue data showed Bitcoin ETFs recorded $225.2 million in net outflows, while Ethereum ETFs posted $26.3 million in outflows, reflecting cautious investor sentiment. Bitcoin traded near $64,000, while Ethereum hovered above $1,850.

Adding to market concerns, Pi Network is scheduled to unlock 127.5 million PI tokens over the next 30 days. The release represents approximately 2.06% of the 6.19 billion locked PI tracked on the network, with an estimated market value of around $10.65 million. On average, about 4.25 million PI tokens are expected to unlock daily, although the amount will vary throughout the period.

The largest single-day release is expected on June 25, when roughly 7.45 million PI tokens worth approximately $622,276 are scheduled to become available. While token unlocks increase circulating supply, they do not necessarily translate into immediate selling pressure since not all unlocked tokens are sent to exchanges.

At the time of writing, Pi Network price traded around $0.0835 after posting a modest recovery on the four-hour chart. The Relative Strength Index (RSI) stood at 34.46, signaling that the token is approaching oversold conditions. However, the MACD remained bearish, with the indicator staying below the signal line.

From a technical perspective, immediate resistance sits near $0.090, followed by $0.095 and the psychological $0.10 level. If bearish momentum continues, support is expected between $0.078 and $0.075, while a break below that zone could send Pi Network price back toward the crucial $0.070 support area.