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 under 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 strain 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 incorrect 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 value drops
Pi Community’s latest 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 outlets and for freelance companies.
Regardless of the intensive scale and real-world utility proven in the course of the occasion, PI didn’t register a constructive value response.
The token has as a substitute 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 p.c of its worth, elevating critical questions concerning 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 quicker tempo than demand can take up.
Over 4.9 billion PI tokens are already in circulation, and an extra 126.6 million will probably be unlocked this month.
On common, the community has been releasing 133 million tokens every month, with an extra 1.54 billion tokens anticipated to be unlocked over the following 12 months.
This rising provide, with no corresponding improve in shopping for strain or liquidity, is cited as the first motive behind the token’s persistent downtrend.
Technical indicators assist this view. PI is at present buying and selling under its 20-period Exponential Transferring Common (EMA), a bearish indicator, and the Relative Energy Index (RSI) has dropped under 20—properly into oversold territory.
Analysts observe 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 value motion is following a descending triangle formation—a sample usually linked with continued bearish momentum.
Until there’s a transparent breakout from this sample, analysts imagine PI may quickly slide under $0.50 if present promoting strain continues.
A reversal rally, if one happens, may doubtlessly 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 circumstances solely spotlight PI’s poor efficiency.
Whereas different property profit from institutional curiosity and excessive liquidity, PI continues to battle with alternate listings and widespread scepticism.
Undertaking’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 comparable to Bitget, OKX, and MEXC.
Nevertheless, issues about its long-term viability stay.
The mission nonetheless faces criticism for missing liquidity, unclear use instances past occasions like PiFest, and resistance from main platforms.
One main alternate, 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 achievement.
Regardless of latest promotional efforts, Pi Community’s future stays unsure.
Market watchers imagine 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 alternate assist proceed to outweigh the community’s community-driven initiatives.
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