Pi Network token falls 15% as major unlocks push market cap below $1 billion

On July 13 the Pi Network cryptocurrency dropped about 15%, sinking to roughly $0.08 and driving its market capitalization under $1 billion for the first time since its launch. The decline accelerated as investors anticipate a large scheduled token unlock, with more than 100 million Pi expected to enter circulation in the coming weeks, raising concerns over oversupply.

The price slide has sparked criticism from community members who blame the Pi Core team for limited utility, delayed listings, and a lack of buy‑back or burn mechanisms. Analysts note that technical indicators show the token in a strong downtrend, though oversold signals could hint at short‑term exhaustion. Recovery scenarios focus on listing the token on major exchanges or implementing supply‑reduction measures such as token burns.