Whales Lock 3.3M Pi as Daily Unlocks Drop Sharply, Hinting at Price Rebound

The Pi Network witnessed a significant shift in token dynamics as over 3.3 million PI tokens were voluntarily locked within 24 hours, following the project team’s decision to reduce mining rates and encourage Pioneers to secure their holdings.

Strong Community Commitment Despite Market Pressures

Community data reveals that 3,349,768 PI tokens, representing approximately 0.13% of the circulating supply, have been locked for periods extending two weeks or longer. Many Pioneers appear reluctant to sell tokens they’ve accumulated over years at current prices below $0.4, instead choosing to maintain positions based on expectations of real-world utility expansion.

You held onto $PI token for over five years, ignoring chances to sell at $0.80, $1, even $2.50.
Now it's down to $0.35 and more tokens is unlocking every month. "This has all the signs of a slow rug".
There's buyback option tho

In crypto, emotion is your biggest… pic.twitter.com/9YBvkiggxs

— Enthusiast 🛜 (@Enthusiastcrew) August 3, 2025

This wave of lockups arrives during a pivotal moment for the network. Pi Network recently implemented an 8% reduction in mining rates, bringing the rate down from 0.0030165 π/h to 0.0027746 π/h—marking the lowest mining rate in the project’s history. This adjustment works alongside community reminders about token locking to help manage supply growth and maintain ecosystem stability amid ongoing market turbulence.

August’s opening days saw more than 19 million PI tokens enter circulation, continuing a trend from July when over 72 million tokens were unlocked. This latest unlock event corresponded with a sharp 13.75% daily decline to $0.35, as trading activity increased short positions and pushed derivatives open interest to approximately $30 million.

Network Challenges and Transaction Issues

Pi Coin faced a difficult start to August, reaching a new all-time low of $0.32 before recovering slightly to $0.36. The token currently operates within a trading range of $0.32 support and $0.40 resistance, with bearish sentiment dominating market conditions.

PiDoor data highlights significant network operational challenges, showing that roughly 102,604 out of 200,000 daily transactions are failing, resulting in a 53% failure rate. Transaction volumes have also declined from July to August levels, potentially indicating reduced platform engagement. Pi Coin currently trades at $0.3553, down 4.59% over the past day, maintaining its 39th position by market capitalization at $2.76 billion, which represents a 4.56% decrease.

A notable development shows daily unlocks dropping from approximately 9 million PI to under 5.9 million tokens. This reduction means fewer liquid tokens entering the market each day, which analysts suggest could create upward price pressure if demand increases and help manage inflationary concerns.

Exchange Support and Future Outlook

Cryptocurrency exchange Bitget has launched promotional campaigns targeting pioneers who deposit Pi Network tokens, aiming to boost liquidity and strengthen market support structures. Some community members believe the combination of new lockups and network improvements could establish groundwork for a potential recovery.

Recent analysis from Coingape’s Pi coin forecast suggests price recovery potential due to expanding Bollinger bands formation. On-chain activity indicates substantial whale accumulation, with data showing a massive 350 million PI coin purchase during recent price dips. Financial advisor and “Rich Dad Poor Dad” author Robert Kiyosaki has noted that August historically brings cryptocurrency market declines.

Market sentiment remains divided, with multiple analysts including Arthur Hayes forecasting potential Bitcoin dips below significant levels. Such movements would likely impact Pi Coin pricing as well, suggesting market participants may benefit from patience as current conditions develop.

Broader Market Sentiment Impact

The substantial token locking activity and reduced unlock rates may provide temporary price stability, though persistent network issues and broader market headwinds continue to weigh on investor confidence. Near-term price action will likely depend on whether whale accumulation patterns can offset the prevailing bearish sentiment across cryptocurrency markets.