Pi Network (PI) reached a new all-time low near $0.07060 on July 14, then rebounded over 16% the following day before the recovery faded. The token fell about 12% within 24 hours, with trading volume declining roughly 13% to $23 million. Data from PiScan showed massive daily token unlocks — over 7 million PI worth more than $527,000 were set to be released on July 16, adding to 5.181 million tokens unlocked the previous day. Over the next five days, more than 24 million PI would be released, averaging 4.25 million PI per day. Profit-taking after the brief rebound also contributed to renewed weakness, with small swaps into Bitcoin, XRP, and Tether recorded.
Pi Network [PI] reached a new all-time low near $0.07060 on July 14. The altcoin rebounded over 16% the following day, but the recovery quickly faded, and the token fell by around 12% within 24 hours.
Trading volume also declined roughly 13% to $23 million. Token unlocks and profit-taking may have contributed to the renewed weakness.
Data from PiScan showed that massive token releases are set to be unlocked daily, with the highest release this week occurring on July 16. More than 7 million PI, worth well over $527,000, would be hitting the market, adding to the 5.181 million tokens unlocked the previous day.
Over the next five days, well over 24 million PI would be released, resulting in immense selling pressure. Each day, an average of 4.25 million PI are unlocked, with a value exceeding $315,000.
Profit-taking may have added further pressure after PI rebounded from its record low. The recovery briefly carried PI toward $0.085, placing dip buyers in profit and potentially encouraging some traders to exit.
PiScan also recorded small swaps into Bitcoin [BTC], XRP, and Tether [USDT]. However, the available data did not establish whether those swaps materially affected PI’s market price.
PI’s technical structure remained bearish after the token broke below its three-week trading range. The range held between June 5 and June 29, after which PI formed several lower highs on the four-hour chart.
The latest rejection pushed PI back toward its all-time low, trading near $0.07312 when the chart was captured. Additionally, the Cumulative Volume Delta [CVD] reflected strong selling on OKX, recording approximately 18.65 million PI in net selling.
The Directional Movement Index [DMI] supported this bearish structure. The Negative Directional Indicator stood at 22, above the Positive Directional Indicator at 14, suggesting sellers retained control and leaving PI vulnerable to another lower high.
However, Pi Network scheduled its Protocol v25 upgrade for July 22. The update targeted network stability, reliability, and privacy-preserving capabilities.
The upgrade could improve sentiment, but its effect on demand remains uncertain. Continued unlocks and broader market weakness may limit any recovery.
