Pi Network Price Struggles Amid Weak Demand and Token Unlocks
The Pi Network token price continues to struggle, hovering around $0.08295 after gaining 1% in the past 24 hours. Despite this minor increase, PI remains 30% lower over the past month due to weak demand and token unlocks putting downward pressure on prices.
The wider crypto market has seen a slight recovery, with a 1.24% increase to $2.18 trillion, fueled by regulatory advancements and institutional action. However, this upswing hasn't translated to increased buying interest in Pi Network ahead of an impending network deadline.
PI is now approximately 97% below its February 2025 peak of $2.98, with the token also sitting 17% above its July 14 low of $0.07072. The technical framework shows relaxing bearish actions, yet consumers have failed to capitalize on this opportunity for a recovery.
The Pi Core Team has initiated deployment of Stellar Protocol version 26 across the Pi Network Mainnet, with node operators needing to update by August 11 to maintain their connection. This upgrade is the first in two scheduled upgrades and had a relatively minor impact on the price, indicating traders remain focused on supply conditions rather than technical developments.
Accelerating token unlocks will release approximately 127.96 million PI in August, worth around $10.56 million at current prices. This increase in available tokens may further suppress recovery efforts unless demand rises to absorb this additional circulation.