Pi Network Faces Sell Pressure as 8.7M Tokens Unlock Now

Pi Network price risks sharp drop as major unlock hits on Dec. 25

Pi Network (PI) is showing renewed downside vulnerability just as roughly 8.7 million tokens are scheduled to be unlocked on Thursday, Dec. 25. That supply increase — estimated at about $1.76 million based on current rates — could intensify selling pressure during an already fragile period for the token.

Market context and recent price action

After peaking near $0.279 in November, PI plunged approximately 31% to an annual low around $0.192 last week. Short-term buyers stepped in and pushed the price up to $0.214 over the weekend, but momentum faded and PI traded near $0.203 as markets awaited U.S. initial jobless claims data. The current atmosphere is cautious: investors are sensitive to macro news and imminent token unlocks that increase circulating supply.

Key unlock statistics and supply impact

Data from PiScan shows the 8.7 million PI unlock on Christmas Day is the largest single release scheduled this month. December remains a heavy issuance month for Pi Network, with nearly 54.7 million tokens expected to enter circulation in total — an estimated $11.07 million at current prices. Large, concentrated unlocks tend to lower scarcity and can amplify downward price moves if not offset by strong buying demand from exchanges, DeFi pools, or ecosystem participants.

The token unlock event follows two recent announcements by the Pi core development team focused on bolstering Pi's DeFi infrastructure and expanding utility in real-world use cases. Should those initiatives attract meaningful activity — increased staking, DeFi liquidity, or merchant adoption — they may help absorb part of the unlocked supply and reduce downside pressure. However, such effects often take time to materialize and may not prevent short-term outflows from investors seeking liquidity.

Technical outlook: double top, Supertrend and MACD warn of downside

On the daily chart, PI has formed a double top pattern since late October with peaks near $0.285 and a neckline in the $0.192–$0.196 area. The double top is a classic reversal formation; if the neckline is breached decisively, notable declines are a common follow-through.

Pi Network price has formed a double top pattern on the daily chart — Dec. 24 

Momentum indicators are aligned with a cautious, bearish bias. The Supertrend flipped red and moved above price, signaling that sellers are reasserting control. Meanwhile, the MACD lines have failed to cross above the zero line, implying limited bullish momentum and increased chances of consolidation or further downside.

Potential downside and scenarios to watch

If PI cannot hold the neckline support around $0.192–$0.196, technical models suggest a possible drop toward $0.153 — roughly 24% below current price levels at the time of writing. That scenario would be consistent with a confirmed double top breakdown and accelerated selling following the unlock event.

Conversely, a robust rebound from the neckline, accompanied by higher on-chain activity, DeFi liquidity increases, or strong buy-side absorption of the unlocked supply, would invalidate the bearish setup and open the door to a recovery attempt toward recent resistance levels.

What traders and holders should monitor

• Watch on-chain flows and exchange inflows following the Dec. 25 unlock. Elevated outflows to exchanges could indicate selling pressure.
• Track liquidity and volumes in Pi-focused DeFi pools and DEXes to see if ecosystem activity ramps up.
• Monitor Supertrend and MACD for confirmation of trend direction; a crossover above zero on the MACD would be a constructive technical sign.

Traders and long-term holders should prepare for increased volatility around the unlock date. Short-term price action will likely depend on how much of the newly unlocked supply is sold versus absorbed by buyers attracted by recent DeFi and utility announcements.

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