Pi Network big dump to an all-time low! 170 million PI unlocking may trigger a new round of dumping.

The price of Pi Network (PI) has recently accelerated its fall, reaching a historic low of 0.33 USD just a few hours ago, with its market capitalization shrinking to about 2.6 billion USD, dropping out of the top 50 Crypto Assets globally. As nearly 170 million Tokens are set to be unlocked in the next 30 days, and the amount held by exchanges continues to rise, the market is concerned that the dumping pressure will further intensify.

Price falls nearly 90% market capitalization drops out of the top 50

Since the peak in February, the PI price has plummeted nearly 90%, with the latest round of decline compressing its market capitalization to 2.6 billion dollars, ending its position in the top 50 list of Crypto Assets.

The technical chart shows that $0.33 is a key support level. If it is breached, it may trigger more selling pressure; if it holds, it is expected to attract fund inflows and rebound to $0.85 in the short term.

Analyst Divergence: Polar Predictions from $0.85 to $100

Some market analysts believe that falling below $0.33 will bring more pain to the bulls; while others are optimistic and call for investors to buy on dips, with some even shouting out a long-term target price of $100.

However, if PI is to reach that price level, its market capitalization will approach 800 billion USD, surpassing all Crypto Assets except for Bitcoin (BTC) and Ethereum (ETH) at this stage, which is almost impossible to achieve.

170 million Tokens unlocked and exchange holdings increase

(Source: PiScan)

According to on-chain data, nearly 170 million PI Tokens will be unlocked in the next 30 days, with a single-day release of 13.7 million on September 2, setting a new historical high.

At the same time, the amount of coins held by the exchange has surpassed 416.2 million, of which Gate holds nearly 200 million. This means that once market sentiment turns bearish, these tokens may quickly flood the market, intensifying the dumping pressure.

Conclusion

Pi Network is facing multiple pressures including a new low in price, shrinking market capitalization, token unlocking, and an increase in coin holdings on exchanges. In the short term, the support level at $0.33 will be key in the battle between bulls and bears; if it is broken, the downtrend may further expand; if it holds, a technical rebound may occur. However, before the unlocking wave and potential dumping pressure are resolved, investors should remain highly cautious. For more real-time market data and in-depth analysis, please follow the official Gate platform.