Pi Network’s native token PI slid hard over a 12-hour stretch, dropping to about $0.189 and losing roughly 7% to 8% in the past 24 hours. The move pushed the token close to its October all-time low after weeks of stagnant trading, ending a long period in which price action had stayed unusually muted.
Trade tensions hit broader markets before PI joined the sell-off
The decline came alongside wider volatility tied to rising trade tensions between the United States and the European Union. According to the source material, the U.S. President announced a new set of tariffs targeting eight countries as part of efforts tied to purchasing Greenland from Denmark. The European Union then held an emergency meeting, and reports said French President Emmanuel Macron called for the bloc to use a “trade bazooka” to sharply restrict U.S. access to European markets.
Crypto markets did not react immediately while those geopolitical developments were unfolding. Selling picked up after Asian equities and futures opened, according to market data, and PI came under visible pressure during that session. In earlier bouts of market turbulence, the token had avoided some of the sharper swings. This time it did not.
PI also missed the early-January crypto rally
Recent weakness stands out even more because PI did not join the early-January upswing. During that period, Bitcoin rallied and many altcoins posted double-digit percentage gains, while PI stayed largely stuck in a narrow range. That left the token with little momentum when macro-driven volatility returned.
More than 4.6 million tokens unlocked each day
Supply dynamics are also drawing attention. Data from PiScanUnlock shows average daily unlocks above 4.6 million PI. As previously locked tokens become available for trading, the amount of circulating supply rises, and that can translate into more direct sell pressure in the market.
For PI, that unlock schedule adds pressure at a sensitive point on the chart. Historical price records show the token set its prior all-time low in October, and current trading levels are now moving back toward that area.