- The Pi Network token (PI) price fell more than 40% in one month, contrary to expectations following mainnet launch.
- An upcoming unlock of $91 million worth of tokens threatens to worsen selling pressure.
- The Pi Network team has rolled out updates to support the ecosystem and try to counteract market headwinds.
PI, the native token of the Pi Network, has plunged over the past month, losing more than 40% despite many investors’ hopes after the mainnet launch.
This sharp decline surprised holders, especially as the broader cryptocurrency market shows tentative signs of recovery.
Celebrated for its unique mobile-mining model that allows users to earn tokens via smartphones, Pi has struggled to convert that innovative vision into sustained market value.
Disappointing performance after mainnet
The Pi Network mainnet launch was widely expected to be a turning point for PI, with many anticipating a boost to the token’s credibility and price.
Instead, the token fell from a high of $2.99 in February 2025 to $0.9287 by March 25, 2025 — a dramatic drop of 68.9%. That fall stands in stark contrast to the optimism that once surrounded the project, which was fueled by promises of wide accessibility and a growing user base.
Analysts point to persistent supply pressure and uncertainty around major exchange listings as key contributors to this disappointing trajectory.
Imminent PI token unlocks pose a challenge
Adding to market unease is an imminent token unlock that will release 99.3 million PI tokens over the next 30 days, worth roughly $91 million at current prices.
That equates to about 3 million tokens entering the market daily on average, with a peak unlock of 6.8 million tokens scheduled for April 3, 2025.
Such a significant inflow is likely to increase selling pressure and could push PI’s price lower. Further unlocks scheduled in April, May and June — totaling 115.57 million, 182 million and 222 million tokens respectively — cast a long shadow over the token’s short-term stability.
Technical indicators point to further downside
On the technical side, the current PI price of $0.9287 is approaching critical levels. Immediate support sits near $0.70, while resistance is around $1.00.
Bollinger Bands indicate a seller-dominated market, with price hugging the lower band. The 4-hour Relative Strength Index (RSI) at 35.87 underscores a bearish bias, though it is nearing oversold territory. 
Additionally, moving averages and the MACD reinforce downward momentum. A break below $0.85 could target $0.70, while a decisive move above $1.00 might open the path to $1.34.
Pi Network team’s efforts to strengthen the ecosystem
Amid these challenges, the Pi Network team has been active. A recent update allows PI holders to view their tokens in an official Telegram wallet, albeit with limited functionality for now.
🚨 BREAKING: You can now see $PI in Telegram’s official wallet 🚀
⚠️Condition:
• You can only buy, sell, or store $PI in the wallet.
• You will not be able to send $PI to your Telegram contacts, withdraw it to an external wallet, or receive it from anyone. ❌#PiNetwork pic.twitter.com/z0jI2dWqlL— Pi News (@PiNewsMedia) March 25, 2025
The team also extended the PiNet migration grace period until May 28, 2025, giving developers more time to secure domains without competitive bidding.
While these measures have not yet produced a market turnaround, they signal an intent to improve accessibility and encourage developer participation, which could lay the groundwork for a stronger ecosystem despite current market turbulence.