PI Token Faces Bearish Pressure as 263 Million Coin Unlock Approaches

PI coin is hovering NEAR a critical support level at $0.7411 as a significant token unlock event threatens to intensify selling pressure. The protocol is set to release 263 million PI tokens in June, followed by 233 million in July and 132 million in August—totaling over 1.5 billion tokens within a year.

Technical indicators are signaling bearish momentum, with BBTrend at -34.26 and MACD confirming the downtrend. On-chain data shows increasing Pi deposits to centralized exchanges, indicating holders may be preparing to sell amid weakening demand.

Market sentiment remains divided. Retail investors hold onto hope while insiders reportedly sold tokens near May’s peak, fueling rug pull speculation. Privacy concerns add to the uncertainty, with critics alleging PI Network’s app collects excessive user data without transparent consent mechanisms.