Pi Network token unlocks drive price below $0.15

Pi Network (PI) has faced renewed selling pressure as a scheduled unlock of roughly 195 million tokens over the next 30 days looms. The upcoming supply influx, representing about 3.2% of the locked supply, has pushed the price toward the $0.15 psychological support level, with the token trading near $0.149 after briefly slipping below that mark.

Technical indicators remain bearish: the RSI hovers around 34, MACD stays below zero, and support levels at $0.1440 and $0.1345 are under threat. Recent on‑chain data show outflows of more than 2.55 million PI tokens from centralized exchanges, reflecting miners cashing in as mainnet migration accelerates. While a short‑term rally lifted PI to $0.1507 after CEX withdrawals, the larger unlock schedule and thin exchange liquidity keep downside risks high.

The market is also reacting to Pi Network’s recent Protocol 23 upgrade, which migrated the backend to Stellar Consensus Protocol v23 and introduced smart‑contract capabilities. Despite growth in verified users and mainnet migrations, each migration adds transferable supply, further weighing on price.