Pi Network's Value Hits Record Low, With Potential for Further Decline in the Coming Days: Insights

The recent market correction has severely impacted many altcoins, with Pi Network's native token suffering the most. It has seen a staggering 95.6% decrease in value from nearly $3 to a new all-time low of $0.132 within a year, according to CoinGecko data. Additionally, on-chain data from PiScan, a site promoting transparency about the token's daily and monthly unlock schedules, suggests the next few days could exacerbate the downward trend. Rather than a gradual unlock, over 8.5 million coins will be released in the next month, significantly more than the 4-5 million seen just a few months ago. Furthermore, there will be a massive unlock of 23.6 million PI on February 13. Although not guaranteed to be immediately sold, the release of these tokens raises concerns of heightened selling pressure.