Pi Network (PI) Nears All-Time Low as August Token Unlock Looms

Pi Network (PI) is hovering near its all-time low as selling pressure intensifies ahead of a major token unlock in August. The cryptocurrency struggles to maintain support above $0.40, with 160 million PI tokens poised to enter circulation—representing a 2.1% supply increase. Bearish sentiment grows as Onramp Money postpones its integration, eliminating a potential demand driver.

Technical indicators turn increasingly negative as Pi fails to sustain early gains, dropping from $0.4364 to $0.4200 during Thursday's session. The mid-May downward trend accelerates with no clear support levels in sight, while investors prepare for August's unlock event—the largest monthly token release until December's 170.5 million PI emission.

Historical patterns suggest unlock events typically trigger sell-offs as early investors take profits. The delayed fiat on-ramp service worsens PI's liquidity issues, leaving few positive catalysts to offset the coming supply inflation.