The Pi Network cryptocurrency has declined toward its all-time low ahead of a significant token unlock event. Over 82 million Pi coins, worth approximately $11 million, are set to unlock in the coming week, potentially increasing selling pressure. The token also faces additional unlocks for validators in March. A potential Kraken exchange listing is cited as a possible catalyst, but technical analysis indicates the bearish trend remains intact.
The price of Pi Network‘s token has declined as traders anticipate a substantial token unlock. Data shows over 82 million Pi coins, valued at roughly $11 million, are scheduled to unlock within seven days.
This unlock is part of a larger plan to release 206 million tokens by month’s end. Further potential selling pressure is expected in March when validator rewards are distributed.
The token recently traded near $0.1453, close to its historical low of $0.1305. It has lost more than 90% of its value since reaching a record high earlier this year.
Technical analysis supports the ongoing bearish trend, with the price trading below key moving averages. The $0.1520 level is now a critical resistance point after previously acting as support.
A potential positive catalyst is the token’s inclusion on Kraken‘s official asset listing roadmap. Such listings are often viewed as a preliminary step toward full exchange support, which can boost liquidity.
