Pi coin faces a significant unlocking test in September, with exchange reserves breaking 420 million, setting a new historical high | Pi coin price prediction

The Pi coin (PI) entered September with a trading price hovering around $0.35, facing a critical directional choice. On-chain data shows that exchange reserves have surpassed 420 million PI, reaching a historic high, with an increase of 11 million coins since mid-August. Additionally, the planned unlocking of 164 million PI tokens in September creates dual selling pressure. Despite the project party launching a Linux node upgrade and the protocol v23 version update, and European asset management company Valour listing a Pi coin ETP product in Sweden, the price has still not seen improvement. Community opinions have diverged, with optimists believing that technical indicators show bullish signals and whales continue to accumulate, while pessimistic forecasts warn of a possible dip to $0.20.

Exchange reserves hit an all-time high, with an additional 11 million PI sell pressure in two weeks

(exchange Pi coin supply | Source: BeInCrypto)

According to on-chain data from Piscan, the reserves of Pi Token on centralized exchanges (CEX) have surpassed 420 million, setting a new historical record. This is an increase of over 11 million PI flowing into exchanges within just two weeks compared to the 409 million reported in mid-August. This continuous rise indicates that selling pressure is accumulating, while the daily trading volume of Pi Token remains below 100 million. The increased supply in a low liquidity environment may lead to further dips. Analysts point out that an increase in exchange reserves usually indicates that holders tend to sell rather than hold for the long term, especially during periods of low market sentiment.

September plans to unlock 164 million PI, supply expansion may exacerbate downward pressure

Piscan monthly statistics indicate that over 164 million PI tokens are expected to be unlocked in September, which is a predetermined part of the token release roadmap. However, in the current bearish market environment, the new supply may translate into stronger selling pressure, reducing the likelihood of immediate recovery. Historical data shows that large unlocks often lead to short-term price pressure, especially in cases of overall market illiquidity. Investors need to closely monitor the actual flow direction of the unlocked tokens; if most enter the exchange to sell, it may create a price downtrend spiral.

Technical upgrades and ETP listing failed to boost prices, market response lukewarm

Despite the project party launching significant technical upgrades, including the launch of the Linux system Pi node and the upgrade of the protocol to version 23, as well as the European digital asset management company Valour launching a Pi-based crypto ETP product on the Swedish Spotlight stock market, these positive news have not effectively boosted the price. Gate.io data shows that the price of Pi coin has remained flat around $0.35, with no meaningful rebound. This "positive news without rise" phenomenon may reflect the market's skepticism towards the project's progress or indicate that the current price has fully accounted for these positive factors.

Community opinions show divergence, technical indicators suggest potential turning point

The Pi coin community has shown a clear divergence regarding the outlook for September. The bullish side believes that the price not falling further amidst negative signals indicates ongoing accumulation. Investor Drop Spark pointed out: "With factors such as Linux Node + KYC upgrade, bullish MACD and RSI rebound, Swapfone listing + Whale buying, if new exchanges list and Whale accumulation continues, it may push the price towards $0.64." Technical analysis shows that the price structure of Pi coin is similar to the accumulation phase before a breakout of altcoins. The bearish side, such as Moon Jeef, warns: "The number of Pi coins on exchanges has reached new highs, and selling pressure continues. We might first see $0.2 before reaching $1." CoinMarketCap's trend line and bullish sentiment list have reappeared the presence of Pi coin, indicating a revival of market interest.

Conclusion

Pi coin is facing a dual challenge in September with exchange reserves hitting a new high and large-scale token unlocks. The technical upgrades and new product launches have not effectively boosted market sentiment. The community's divisions reflect the current uncertainty, with bullish views relying on improvements in technical indicators and whale accumulation, while bearish views focus on ongoing selling pressure and potential dip risks. Investors should closely monitor the inflow and outflow data from exchanges, the actual movement direction of unlocked tokens, and the overall changes in cryptocurrency market sentiment. These factors will collectively determine whether Pi coin can maintain the $0.35 support or test lower levels. The long-term value realization of the project's fundamentals still requires observation of the mainnet ecosystem development and actual application progress.