Pi Network is bracing for a massive supply wave: on-chain data reveals that approximately 239 million Pi tokens are scheduled to be unlocked throughout April, representing about 4% of the total locked supply. This translates to an average of nearly 8 million tokens entering circulation daily, with the heaviest unlocking period between April 9 and April 19. A peak of 22.78 million tokens will be released on April 16 alone, amplifying selling pressure.
Weak Demand Fails to Offset Supply Glut
Despite the significant unlock, market demand remains tepid. Daily trading volume hovers between $21 million and $26 million, far from sufficient to absorb the new supply. This imbalance has pushed the Pi token price down to a narrow range of $0.17 to $0.18, after a dramatic decline of more than 90% from its 2025 all-time high. While the market is gradually absorbing some of the selling, no strong recovery is evident yet.
Technology Upgrades vs. Fundamental Headwinds
Pi Network recently completed the Stellar v23 protocol upgrade and continues to advance its mainnet migration, but these positive developments have failed to revive investor confidence. Analysts point to a vicious cycle where unlock recipients rush to cash out while potential buyers remain cautious, fearing further drops. If demand does not pick up significantly, Pi could slide toward the $0.10 psychological support.
Risk Warning and Outlook
Investors should be alert to short-term sell-off risks. Despite Pi Network's large community, the opacity of its tokenomics and the incomplete mainnet functionality raise concerns about long-term value. This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research and consult a qualified financial advisor before making any decisions.