Pi Network’s price tumbled over 11% in the past 24 hours, extending its downward trend as concerns over token dilution mount. The decline follows reports of a major token unlock set to increase circulating supply, raising fears of selling pressure.
Pi network coin drop aligns with broader crypto market weakness, as Bitcoin (BTC) and other major assets experienced a sell-off. Market-wide losses wiped 3.65% off the total cryptocurrency market capitalization, now standing at $2.75 trillion.
Token Unlocks Fuel Market Jitters
Pi Network’s price struggles come amid concerns about a wave of token unlocks scheduled for the coming years. Data from Pi Network’s blockchain explorer shows 7.22 billion tokens currently in circulation against a total supply of 100 billion.
A staggering 188 million tokens will enter circulation this month, with over 1.4 billion set to unlock throughout 2025. The largest unlocks will occur in 2027 and 2028, potentially adding sustained downward pressure to the token’s valuation.
Token unlocks often lead to increased supply, raising concerns about dilution and potential price declines. Investors typically react to such events with caution, fearing that an influx of unlocked tokens could trigger selling pressure.
Trump-Related Speculation Unraveled
Pi Network gained traction last week after social media buzz suggested U.S. President Donald Trump had name-dropped the project during the White House’s first-ever Crypto Summit on March 7, 2025.
A X account, Pi Network-Open Mainnet, which boasts 227,000 followers, claimed Trump acknowledged Pi multiple times at the event.
“I heard about a coin called Pi, and lots of people are mining it on their phones. Maybe we should consider it—if it’s good, why not let it grow in America?” stated one of the viral quotes attributed to Trump by the Twitter account Pi Network-Open Mainnet.
Notably, Grok, the AI chatbot connected to X, fact-checked the claims and found no verifiable evidence of Trump mentioning Pi Network during the event.
Technicals Paint Bearish Outlook as Pi Coin Loses Key Support
Pi Coin broke below a symmetrical triangle pattern on its four-hour chart, a bearish indicator that points to potential extended declines.
Crypto analyst Crypto Diplomat flagged the sharp price drop from critical support at $1.88 down to a recent low at $1.38. The analyst warned that further weakness might follow if Pi fails to defend the crucial $1.20 support level.
Trader Zoe, identified on X as Zoe, also echoed similar concerns, pointing out the breach below key support at $1.65. According to Zoe, Pi Coin could find temporary relief if it holds above the $1.20 support level.
Meanwhile, analyst Coinvo drew attention to a fair value gap between $1.20 and $1.38. Notably, fair value gaps typically serve as liquidity zones that attract price action.
Pi Network plunges 11% as token unlock fears mount, breaking key support at $1.88. Analysts warn a drop below $1.20 could trigger $0.75.
