As of August 7, 2025, the price of Pi Network (PI) tokens continues to be under pressure, having fallen to around €0.30, a nearly 90% drop from the all-time high of €2.66 set in February 2025. This price level marks the lowest point for PI since it began trading, reflecting the multiple structural challenges facing the market.
Three Core Reasons for Price Fall
- Massive Token Unlocking Impacting the Market: At the beginning of August, over 19 million PI tokens entered circulation, continuing the large-scale unlocking trend that began in July. This month, a total of approximately 166 million PI (worth around €50 million) will be released, directly leading to a surge in supply.
- Technical Bottlenecks Weaken Confidence: The network’s transaction failure rate has long been above 50%, and with delays in the mainnet launch progress, millions of users are unable to migrate their tokens due to incomplete KYC, limiting the practical utility of the ecosystem.
- Market Liquidity Fragmentation: PI has yet to be listed on major exchanges like Binance and Coinbase, and trading depth relies on Gate and decentralized trading platforms, exacerbating price volatility.
Whales Accumulating and Retail Investors Locking Up: The Game Behind Contradictory Signals
In a generally bearish environment, a mysterious address (GAS…ODM) has continuously accumulated over 350 million PI, becoming the largest known non-foundation holding entity. Its low-cost accumulation strategy is interpreted as recognition of the project’s long-term value.
At the same time, the community’s voluntary lock-up action has formed another supporting force. On August 4 alone, 3.3 million PI tokens were voluntarily locked to obtain high-yield rewards, demonstrating that some users refuse to panic sell.
Technical Analysis: Oversold Signals and Key Support Levels
- Indicator Characteristics: The daily RSI (Relative Strength Index) of PI has dropped to 25, entering the oversold range, while the MACD maintains a death cross formation, reflecting extremely weak market sentiment but a demand for a technical rebound.
- Bull-Bear Boundary: €0.30 ($0.35) constitutes a psychological support level; if effectively broken, it may drop to €0.26 ($0.32); resistance is located at €0.34 ($0.40) and €0.43 ($0.50).
- Volatility Shrinking: The recent Average True Range (ATR) has dropped to 0.03, with price fluctuations narrowing, indicating that the market is in a consolidation phase before making a directional decision.
Ecological Progress and Challenges: Coexistence of Dawn and Shadows
Positive Progress:
- Fiat Channel Expansion: Wallet integration with payment services like Banxa and TransFi supports credit card and Apple Pay purchases of PI, enhancing the ease of deposit for users in the Eurozone.
- Application Ecosystem Expansion: Pi App Studio attracts over 1,000 dApp deployments, and the domain service ".pi" goes live, strengthening digital identity application scenarios.
- Deflationary Mechanism Initiated: The core team has reduced the mining output rate to a historical low and decreased circulation through staking incentives.
Pending Issues:
- Mainnet Delayed Launch: A large number of users are trapped in a closed network, unable to freely transfer assets.
- Exchange Access Stagnation: Lack of endorsement from mainstream trading platforms, leading to continuous fragmentation of liquidity.
- Community Trust Crisis: The foundation’s single-day sale of 2.53 million PI has sparked controversy, compounded by rumors of an "$8 billion internal token transfer" that exacerbate market skepticism.
August Unlock Wave: The Critical Point of Selling Pressure Approaches
In the next 30 days, the planned unlocking of 166 million PI (accounting for 2% of the current circulating supply) poses the biggest short-term risk. If the unlocked tokens flood into exchanges, it could trigger a new wave of selling. Historical data shows that after the July unlocking, the price of PI fell to $0.32 on August 1, confirming the suppressive effect of this mechanism on the market.
Community Sentiment: Polarization in Anxiety
The community has split into two major camps:
- The Holders: Viewing the accumulation and locking of whale assets as a sign of long-term confidence, emphasizing progress in ecological development;
- The Exiters: Discontent with the price fall and technical delays, questioning team transparency and roadmap execution.
It is noteworthy that the "Global Consensus Value" (GCV) model claims in community discussions that 1 PI = €289,027, but this assertion lacks actual trading support and more reflects idealized expectations rather than market prices.
Future Outlook: Recovery Requires Breaking Through Three Bottlenecks
The ability of Pi Network’s euro value to reverse its decline depends on three key breakthroughs:
- Improvement of Technical Reliability: Reducing transaction failure rates, accelerating KYC and mainnet migration;
- Expansion of Liquidity Channels: Achieving listings on top exchanges to improve trading depth;
- Verification of Ecological Utility: Promoting the growth of dApp users and the implementation of real payment scenarios.
If August can ease the unlocking selling pressure and release favorable technical advancements, PI may be expected to rebound above €0.34; on the contrary, if market confidence further deteriorates, the historical support level of €0.30 may struggle to hold.
Crypto market analysts point out: The predicament of PI is not an isolated case. As PayFi track projects like Remittix (RTX) attract funds with practical payment solutions, tokens lacking immediate utility are facing accelerated elimination from the market.
