Pi Network is set to experience a massive supply increase in April as approximately 239 million tokens become unlocked, representing about 4% of the total locked supply. This translates to an average of nearly 8 million tokens entering circulation each day. The largest unlock events are scheduled between April 9 and April 19, peaking on April 16 with 22.78 million tokens released in a single day. The concentrated supply release is exerting significant downward pressure on PI's price.
Weak Demand and Price Struggles
Despite the supply surge, demand for Pi remains lackluster. Daily trading volumes have ranged between $21 million and $26 million, insufficient to absorb the new supply. The imbalance has pushed PI's price down to the $0.17–$0.18 range, marking a decline of over 90% from its all-time highs in 2025. Market sentiment is deeply bearish as the token struggles to find a stable floor.
Limited Market Absorption
PI appears to be finding temporary support around $0.17–$0.18, but the market's capacity to absorb new supply is limited. With daily unlocks valued at approximately $1.3 million (at $0.17 per token) and daily trading volumes around $20 million, the relative pressure is manageable but still negative. Previous reports have highlighted challenges such as surging mainnet migrations and broken key support levels, reinforcing the bearish outlook.
Outlook
In the short term, April's token unlock will be a key catalyst for PI price action. Without a pickup in demand or new ecosystem developments, PI could continue to trade weakly and possibly break below $0.15. Long-term recovery will require improved user engagement and liquidity.