Pi Network's (PI) native token plunged to a fresh all-time low of $0.132 on Feb. 11, capping a 95.6% decline from its near-$3 peak less than a year ago, with on-chain data from PiScan showing that massive token unlocks over the next three days could dump tens of millions of additional coins onto an already battered market.
What Happened: Record Token Unlocks
A broad market correction over the past 12 hours dragged PI to its lowest recorded price. The token has been in a sustained decline since trading near $3, and the latest leg down confirmed a pattern that has erased nearly all of its value.
What makes the situation more precarious is the upcoming unlock schedule. PiScan, a transparency-focused tracking site for the project, shows that the average daily token release over the next month stands at roughly 8.5 million PI — nearly double the 4-5 million pace from just two months ago.
But three days in particular stand out. On Feb. 12, some 18.9 million tokens are set for release, followed by 23.6 million on Feb. 13 — a single-day record — and 16.9 million on Feb. 14.
Once unlocked, the tokens become freely tradable. That does not guarantee immediate selling, though it raises the prospect of intensified pressure given the broader market downturn and growing criticism of Pi Network's team.
Also Read: Ethereum Stalls Below $2,050 As Bears Tighten Grip
Why It Matters: Sell Pressure Risk
The sheer scale of the upcoming unlocks poses a real problem. Releasing nearly 60 million tokens over a three-day stretch into a market already weighed down by fear, uncertainty, and doubt could accelerate the decline.
The unlock schedule also highlights a structural concern.
Locked token holders who have watched PI lose more than 95% of its value now face a straightforward choice once their holdings become liquid — and the incentive to sell at any available price grows stronger as the chart deteriorates.
Rising FUD around the project and its leadership adds another layer of risk. With no clear floor in sight, the next 72 hours could prove decisive for whether PI stabilizes or extends its slide.
Read Next: Third-Largest Bitcoin Miner Sells 4,451 BTC Marking Pivot To AI