Pi Network’s native token fell more than 10% within 24 hours, ending its recovery from a record low near $0.07. PI now trades around $0.082 as sellers defend the key $0.10 resistance level. Meanwhile, wallet concentration and upcoming token unlocks have added new supply concerns.
The decline follows a brief period when Pi Network ranked among the cryptocurrency market’s strongest performers. It climbed about 20% from its July low before losing momentum near $0.10. PI has followed a repeated pattern for more than a year. The token stabilizes, falls to a record low, rebounds sharply, and then faces another rejection.
July brought several record lows for PI after the token broke below the important $0.10 support level. Its latest all-time low arrived near $0.07 during the middle of the month. Buyers then defended that area and pushed PI higher during the following days. The rebound briefly lifted the token by 20% and brought it back toward $0.10.
Still, PI failed to move above that barrier after several attempts. Sellers regained control, while the token gradually weakened and struggled to remain above $0.09. The latest decline then pushed PI toward $0.082. Can PI avoid another record low without reclaiming $0.10?
A sustained move above $0.10 would place PI back above its former support level. In contrast, another fall below $0.07 would move the token into price discovery without historical support underneath.
On-chain holder data reviewed for the report covered eight wallet addresses holding a combined 500 million PI. One address controlled 494,604,514 PI from that tracked total. That balance represented about 98.9% of the tokens held across those eight addresses. The second-largest wallet contained slightly more than 5.39 million PI.
Meanwhile, the remaining wallets held balances measured in the hundreds. The figures therefore showed a sharp difference between the largest address and every other address in the sample. However, the tracked 500 million PI does not represent the token’s full circulating supply of 10.942 billion PI. The data only covers a specific collection of monitored addresses.
Large addresses can also belong to exchanges, bridge contracts, project reserves, or other operational entities. Therefore, the data does not identify the wallet as one individual holder. Even so, activity from a wallet of that size could quickly affect available liquidity. Any transfer involving the address would represent a substantial portion of the tracked holdings
Also Read: Pi Network Price Hits Record Low as 127 Million Tokens Unlocked Near
Pi Network’s release schedule could add nearly 775.8 million PI to the market through the end of 2026. PiScan data provided the figures reported by cryptocurrency news accounts this week. The unlocks could expand liquid supply while PI remains close to its record low. Daily token releases have already remained part of the project’s broader supply conditions.
Still, token unlocks do not automatically determine price direction. Greater circulating supply can improve market depth and transaction conditions when demand supports the additional tokens. PI also recorded a modest positive weekly retracement before reports about the upcoming releases circulated. This movement followed its rebound from the July low near $0.07.
At the same time, added supply could increase selling pressure if holders move newly available tokens onto exchanges. Market demand will influence how the added liquidity affects PI. PI has also dropped from a position inside the 50 largest cryptocurrencies to outside the top 70. Another major decline could push the token outside the top 100 by market value. Investors should closely watch the $0.07 support and upcoming wallet activity.