Pi Network’s token stayed under heavy pressure this week, with PI trading close to its lowest level on record. On Sunday, the token changed hands at $0.1450, only slightly above its all-time low of $0.1305. It is now down more than 90% from its peak, wiping out billions of dollars in value.
82 million tokens are set to enter circulation within seven days
The main issue for traders is the next wave of supply. Pi Network is scheduled to unlock more than 82 million tokens over the next seven days. At the current market price, that amount is worth more than $11 million. Those tokens are part of the 206 million coins expected to come online this month.
Token unlocks tend to draw attention because they increase circulating supply. If demand does not rise at the same time, prices often face added pressure. PI is already trading in a weak range, so the market is watching whether new supply will add to selling in the near term.
Validator rewards planned for March add another supply variable
Supply concerns do not stop with this week’s unlock. Pi Network said in a recent note that it had completed the design for validator rewards and was testing the system, with implementation expected in March. Once those rewards are issued, more tokens will be added to the market.
Some validators may choose to hold what they receive. Others may sell. That difference matters because PI is already trading near historical lows, and even the expectation of distribution can weigh on sentiment.
Kraken roadmap listing is the main bullish catalyst in view
There is one clear upside trigger mentioned in the report. Pi Network has been added to Kraken’s roadmap list, which is often seen as an early step before a token receives a full listing. If Kraken does list PI, the move could improve visibility and trading access for the token. The report noted that Kraken is the second-largest American crypto exchange after Coinbase, which explains why the market is treating that possibility as a meaningful catalyst.
On the technical side, the daily chart still points lower. PI recently broke below the key support level at $0.1520, which had marked its previous all-time low area. The token also remains below both the 50-day and 100-day Exponential Moving Averages, while trading under the Supertrend indicator. That combination keeps the bearish setup intact.
At the same time, the token has become deeply oversold, with the Relative Strength Index staying below 30. Based on the report, the more likely scenario for this week is continued trading within the current range. A move back above $0.1520 would weaken the bearish case and point to a stronger recovery.