Introduction
Pi Network’s native PI token has plunged to a devastating new all-time low of $0.132, marking a catastrophic 95.6% decline from its near-$3 valuation less than a year ago. This dramatic collapse coincides with an alarming on-chain token unlock schedule that threatens to unleash millions of new coins into a market already reeling from a widespread correction, raising the specter of even steeper losses in the immediate future.
Key Points
- PI token has lost 95.6% of its value in under a year, dropping from nearly $3 to $0.132
- February 13 will see 23.6 million tokens unlocked—over four times recent monthly averages
- Token unlocks totaling nearly 60 million PI over three days could intensify selling pressure amid market weakness
A Staggering Descent to Historic Lows
The broader cryptocurrency market correction over the past day has been brutal for many altcoins, but data from CoinGecko reveals Pi Network’s PI token as a standout victim. The token’s price has been in a relentless free-fall, culminating in a fresh all-time low of $0.132. This represents a staggering 95.6% loss in value from its price of close to $3 recorded less than twelve months ago. The chart paints a clear and painful pattern of consistent decline, erasing nearly all of the token’s value in a remarkably short timeframe.
This price action underscores the severe challenges facing the project amid a difficult market environment. The decline to $0.132 is not merely a dip but a complete erosion of investor confidence, placing the PI token among the worst-performing major digital assets over the past year. The scale of the drop, from a psychological milestone near $3 to a fraction of a cent, highlights the intense selling pressure and lack of buy-side support that has characterized its trading.
The Impending Unlock: A Tidal Wave of Supply
While the current price calamity is severe, on-chain data suggests the worst may be yet to come. Analysis from PiScan, a website tracking the project’s tokenomics for transparency, shows a daunting schedule of upcoming token unlocks. A significant portion of the PI supply has been locked, with investors gradually gaining access. However, the release schedule is far from gradual in the coming days, threatening to flood the market with new sellable supply.
Recent monthly unlock averages have risen to just over 8.5 million tokens, already a significant increase from the 4-5 million range seen a few months ago. This pales in comparison to the deluge scheduled for February 12, 13, and 14. The data reveals a massive 18.9 million tokens set for release on February 12, followed by a record 23.6 million on February 13, and another 16.9 million on February 14. The February 13 unlock alone is more than four times the recent monthly average, representing a potential supply shock.
A Perfect Storm for Further Decline
The confluence of factors creates a perfect storm for the PI token. Once these nearly 60 million tokens are unlocked over the three-day period, they become freely tradable. While this does not guarantee immediate sell-offs, the context makes such action highly probable. The tokens are being released into a market characterized by widespread weakness and rising fear, uncertainty, and doubt (FUD). Furthermore, the Pi Network project itself is facing growing criticism regarding its development and team, which may discourage holding.
This massive incoming supply, hitting an illiquid market where the token is already establishing new lows, presents a severe test. Existing holders, seeing their investments decimated, may rush to exit alongside new recipients of unlocked tokens, creating a self-reinforcing cycle of selling pressure. The timing, with the largest unlock coincidentally falling on Friday the 13th, adds a symbolic layer of dread for investors. The project’s transparency tool, PiScan, has thus highlighted a critical near-term risk that could push the price well below its current historic low, demonstrating that the token’s struggles are far from over.
📎 Related coverage from: cryptopotato.com
