Pi Network has plunged nearly 15% on Monday as investors rushed to exit positions ahead of a major token unlock, extending the token’s slide to a fresh all-time low and reinforcing bearish sentiment across the market.
Summary
- Pi Network price plunged 15% as investors reacted to more than 100 million upcoming token unlocks.
- Falling open interest, negative funding rates, and a technical breakdown reinforced bearish momentum.
- A falling wedge offers long-term recovery potential, but macro risks and weak demand keep sellers in control.
According to data from crypto.news, Pi Network (PI) price fell to around $0.08 on Monday after breaking below the key $0.11-$0.12 support area that had contained sellers for weeks.
The decline comes as traders prepare for one of the network’s largest scheduled supply expansions, with 127.5 million PI tokens expected to enter circulation over the coming weeks per PiScan data. The prospect of a sharp increase in liquid supply has prompted holders to sell before the unlocks, overwhelming available exchange liquidity.
Derivatives data has also weakened alongside the spot market. CoinAnk data showed Pi Network’s open interest falling from more than $10.8 million to roughly $8.48 million in recent days as leveraged long positions were closed. Funding rates have remained deeply negative near -2.15%, underscoring that perpetual futures traders continue to favor short positions rather than betting on a recovery.
Geopolitical developments have added another layer of pressure. Renewed military tensions between the United States and Iran have pushed oil prices higher and revived inflation concerns, reducing appetite for speculative assets across crypto markets.
While Bitcoin and other large-cap cryptocurrencies have recorded comparatively smaller pullbacks, lower-liquidity tokens such as PI have experienced much steeper selling as traders rotate toward safer assets.
Massive token unlocks have intensified selling pressure
Pi Network’s latest ecosystem announcements have done little to offset concerns over supply. Recent Pi2Day updates introduced additional developer tools, storage improvements, and verification services, yet traders remain focused on the absence of a fully open mainnet, limited exchange availability, and relatively weak real-world payment adoption.
At the same time, community sentiment has deteriorated as upcoming monthly unlocks continue to outweigh optimism around ecosystem development. Without stronger demand to absorb the additional circulating supply, investors have questioned whether new product releases alone can stabilize the token.
According to trader Crypto With Gopal, however, the current structure may still offer a longer-term reversal setup despite the heavy selling.
“$PI is printing a falling wedge after an extended downtrend. Price is squeezing into the apex while sellers lose momentum and buyers continue defending the lower trendline.”
The analyst added that “a strong move above wedge resistance could spark a fast recovery as sidelined buyers step back in.”
Technical breakdown keeps bears in control
The daily chart shows PI trading inside a well-defined descending channel that has guided price lower since early May. Monday’s decline pushed the token below the channel’s lower boundary and beneath the 0/8 Murrey Math support near $0.0977, leaving the next downside levels around $0.0855 and $0.0732 as the nearest technical support zones. Price also remains below the 20-day, 50-day, and 200-day exponential moving averages, preserving the prevailing downtrend.
Chaikin Money Flow has slipped to around -0.15, showing sustained capital outflows from the asset. Any recovery would first need to reclaim the former support at $0.1099 before testing resistance near $0.1220, where previous breakdown levels and selling interest are likely to emerge.
Failure to defend the $0.073-$0.085 support area would strengthen the bearish case and could accelerate another wave of liquidation if token unlocks continue without a corresponding increase in demand.
Continued geopolitical uncertainty, persistent negative funding rates, and further declines in open interest would add to those risks, while a decisive breakout above the falling wedge and renewed buying volume would invalidate the immediate bearish outlook.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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