4.9 billion tokens already in circulation.
PiFest 2025 noticed 1.8 million customers throughout 58,000 retailers.
Technicals sign additional draw back; with RSI beneath 20.
Pi Community’s token, PI, is on a pointy downward trajectory, dropping over three-quarters of its worth since its February peak.
Regardless of efforts to spice up adoption—together with the high-profile PiFest 2025 occasion—technical indicators and ongoing token unlocks are piling stress on the cryptocurrency.
Because the broader market surges, with Bitcoin buying and selling above $84,000 and Ethereum staying above $1,820, PI’s steep drop units it aside for all of the improper causes.
With over 126.6 million tokens being unlocked this month alone, the problem of oversupply continues to weigh closely on sentiment and pricing.
PiFest drives use, however worth drops
Pi Community’s current push to encourage real-world adoption culminated in PiFest 2025.
The occasion drew participation from over 125,000 sellers and 58,000 retailers, who collectively enabled greater than 1.8 million Pioneers to make use of PI for on a regular basis transactions.
These ranged from purchases at cafes and boutiques to funds at auto retailers and for freelance providers.
Regardless of the intensive scale and real-world utility proven through the occasion, PI did not register a constructive worth response.
The token has as an alternative continued its freefall, now buying and selling at $0.5483.
This marks over a 25% decline over the previous week alone.
From its all-time excessive of $2.98 earlier this 12 months, PI has now shed 77 % of its worth, elevating critical questions in regards to the effectiveness of Pi Community’s adoption technique.
Supply: CoinMarketCap
126 million tokens unlocked in March
The value drop aligns with Pi Community’s ongoing month-to-month token unlocks, that are releasing new tokens into the market at a a lot sooner tempo than demand can take up.
Over 4.9 billion PI tokens are already in circulation, and an extra 126.6 million can be unlocked this month.
On common, the community has been releasing 133 million tokens every month, with an additional 1.54 billion tokens anticipated to be unlocked over the subsequent 12 months.
This rising provide, with no corresponding improve in shopping for stress or liquidity, is cited as the first cause behind the token’s persistent downtrend.
Technical indicators help this view. PI is at present buying and selling beneath its 20-period Exponential Shifting Common (EMA), a bearish indicator, and the Relative Energy Index (RSI) has dropped beneath 20—properly into oversold territory.
Analysts notice that whereas the RSI could point out overselling, there are not any sturdy indicators but of a reversal.
Triangle sample indicators additional fall
From a technical perspective, PI’s worth motion is following a descending triangle formation—a sample typically linked with continued bearish momentum.
Except there’s a transparent breakout from this sample, analysts consider PI might quickly slide beneath $0.50 if present promoting stress continues.
A reversal rally, if one happens, might probably take the token again towards $1.53, however such a transfer would require a major shift in demand and sentiment.
The broader crypto market’s bullish situations solely spotlight PI’s poor efficiency.
Whereas different property profit from institutional curiosity and excessive liquidity, PI continues to wrestle with change listings and widespread scepticism.
Mission’s historical past and repute pose challenges
Pi Community was launched in 2019 with a mobile-first, referral-based mining mannequin.
It remained largely untradable till the mainnet launch, after which it gained listings on exchanges akin to Bitget, OKX, and MEXC.
Nonetheless, issues about its long-term viability stay.
The undertaking nonetheless faces criticism for missing liquidity, unclear use circumstances past occasions like PiFest, and resistance from main platforms.
One main change, ByBit, has overtly refused to record the token.
This stance has additional restricted the token’s publicity and liquidity in a aggressive market the place visibility and tradability are important for fulfillment.
Regardless of current promotional efforts, Pi Community’s future stays unsure.
Market watchers consider that except the token unlock schedule is revised or actual consumer demand catches as much as the provision, the downtrend is unlikely to reverse.
For now, the rising variety of tokens in circulation and lack of change help proceed to outweigh the community’s community-driven initiatives.
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