Key notes
- More than 4.6 million PI tokens are unlocked every day, creating a persistent oversupply.
- Low trading volumes and limited liquidity left Pi vulnerable, with prices near October lows.
- Delayed listings from major exchanges continue to weigh on confidence around the Pi network.
Native token of the Pi network
IP
$0.19
24h volatility:
7.0%
Market capitalization:
$1.59 billion
Flight. 24h:
$32.30 million
has returned towards its October 2025 lows. The cryptocurrency is under continued selling pressure from daily unlocks, low trading activity, and broader market headwinds.
After trading in a tight range for much of January, Pi’s price has recently fallen close to $0.19levels not seen since its October low.
Heavy daily life unblocks saturated supply
One of the main factors behind this new weakness is the ongoing token unlock schedule. On average, more than 4.6 million PI tokens enter the market every day. They expand the circulating supply and add constant selling pressure as more holders seek to liquidate. This high unlock rate occurs without proportionate demand from new buyers, creating an imbalance between supply and demand that amplifies downward pressure on prices.
As of January 19, Pi Network is expected to unlock over 139 million Pi over the next 30 days.
Pi Unlock Board | Source: piscan.io
January performance shows continued weakness
Throughout January 2026, Pi Coin struggled to gain traction, trading sideways and underperforming broader market trends. Trading activity remains subdued compared to many other digital assets, with daily volumes often below levels that would indicate strong buyer interest.
Despite occasional attempts to stabilize, technical indicators point to persistent bearish sentiment, with prices approaching October lows rather than forming a sustained uptrend. At the time of writing, Pi is trading at $0.1890, just 19% above its all-time low of $0.1585 in October 2025. At the same time, it is down 93% from its February 2025 ATH.
Massive Pi fall in the last 24 hours | Source: CoinMarketCap
Possible Reasons Behind Pi Price Drop
To summarize, the most possible reasons for the Pi price drop are:
-
Oversupply from token unlocks: As millions of PI tokens are unlocked daily, the flood of additional supply has outstripped demand.
-
Low commercial demand: Limited liquidity and modest trading volume (around $28 million to date) have left the market vulnerable to price fluctuations, with insufficient buyer interest to absorb new token offerings.
-
Broader Market Volatility: Recent macroeconomic changes and risk aversion in crypto markets, driven by U.S. behavior, have dampened appetite for speculative assets like PI and boosted demand for gold, silver and other safe havens.
-
SEO and Adoption Challenges: Pi Coin’s trading activity remains constrained compared to that of established cryptocurrencies. Delays or hesitation in listings on Binance and other major exchanges have weighed on investor confidence.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Yana Khlebnikova joined CoinSpeaker as an editor in January 2025, following previous stints at Techopedia, crypto.news, Cointelegraph and CoinMarketCap, where she honed her expertise in cryptocurrency journalism.
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