Pi Network Unlocks Another 2.8M Coins — A ‘Middle-Finger’ to Holders?

YEREVAN (CoinChapter.com) — Pi Network’s native coin, Pi Coin, holders were just served an extra supply they weren’t asking for. On April 17, the project unlocked 2.8 million PI tokens. Meanwhile, the price has fallen 23% in the last five days to reach $0.6072 on April 17.

Token Unlock Data Raises Supply Pressure

According to PI Scan, at least 108.9 million Pi tokens will be unlocked in April, adding substantial pressure to the circulating supply. Such injections add to investor concerns about oversupply, especially during declining prices.

Over the next 12 months, Pi Network plans to unlock over 1.57 billion tokens. At the current price, this equals nearly $951.9 million worth of tokens entering circulation. Such large releases can dilute market value if demand does not increase simultaneously. The protocol unlocks an average of 134.6 million tokens each month, expanding supply by around $81.5 million. Looking ahead, the most significant release will take place in December 2027. During that month, 432.3 million tokens will become available, potentially adding over $260 million worth of PI to the market at current prices.

These unlocks apply constant pressure on the price. Unless buying interest increases or the network absorbs the new supply through demand-driven utility, the additional tokens may contribute to prolonged weakness. So far, the price remains capped below key resistance, while selling interest has grown steadily.

Pi Coin Confirms Breakdown Below Key Pattern, Targets $0.435

Pi Coin (PI/USDT) also confirmed a breakdown from a rising wedge formation on the 4-hour chart on April 17. The bearish pattern formed after the price rebounded from $0.443 on April 4 and peaked at $0.797 on April 13. On April 15, Pi Coin fell below the wedge’s lower trendline near $0.70, confirming the setup.

A rising wedge occurs when the price climbs between two converging ascending trendlines. This pattern often signals weakening momentum and typically breaks to the downside. The height of the wedge, from $0.797 to $0.443, spans $0.354. This sets a projected target near $0.435, a level that also served as key support earlier in April.

The 50-period EMA now sits at $0.6593 and remains above the current price. Since the breakdown, Pi Coin has failed to retest or reclaim this level. Volume also surged during the breakdown candle on April 15, confirming strong bearish pressure. Although volume has slowed, it remains elevated compared to earlier activity.

If current conditions persist, PI/USDT could fall toward the $0.435 target. That level aligns with both the technical projection and previous buyer support.

With millions of new tokens entering circulation and the price stuck below major resistance, bearish pressure continues to dominate the outlook.