Altcoins

• 3 August 2025
• |
• 21:16

Pi Coin has entered uncharted territory, plunging to $0.35 on August 3 before a slight rebound to around $0.36 today.

The drop caps a 44% slide over the past two months and wipes out most of the token’s post-launch gains, underperforming a broader altcoin market that has managed to claw back some losses.

The breakdown below the $0.38 support level has rattled technical analysts, with some warning of a potential drop toward $0.21 if buy-side momentum doesn’t return. The Relative Strength Index (RSI) has crashed to 12.15 — its lowest reading since March — suggesting that the token is deeply oversold. A push back above $0.38 could trigger short covering and a rally toward $0.45, but for now, sellers remain in control.

Token Unlocks and Inflation Risk

Much of the downward pressure stems from Pi’s aggressive token release schedule. Of the 100 billion maximum supply, 65% is earmarked for mining rewards. With only 7.77 billion PI currently circulating (about 7.7% of the total), each migration from the enclosed network adds more tokens to the open market. August alone saw 160 million PI unlocked — a wave of supply that has so far overwhelmed buyer demand.

Migration delays are also dragging on sentiment. While over 12 million users have moved to the mainnet, bottlenecks in referral-based and periodic migrations mean a large portion of the community remains stuck in limbo. These unresolved KYC and migration issues have limited user participation in new programs like the August 2 voluntary lockup scheme, which offers mining bonuses of up to 200%.

Community Frustrations Boil Over

The lockup plan, launched by Pi’s core team under Drs. Nicolas Kokkalis and Chengdiao Fan, has met with criticism. Many users see it as poorly timed, given the token’s 90% slide since February, and some are questioning leadership’s communication strategy. Migration bottlenecks have left willing participants unable to join, adding to frustration.

Technical and Ecosystem Developments

On the development front, July brought several upgrades — including Pi Wallet integration with Onramper for fiat purchases, a desktop node update to v0.5.3, and no-code dApp creation tools in App Studio. However, these improvements have yet to translate into meaningful market support, overshadowed by selling pressure and lingering uncertainty around Pi’s open mainnet timeline.

Mixed Whale Activity and Market Mood

Despite the bearish trend, not all signals point down. On August 2, a single whale withdrew roughly $148 million worth of Pi from exchanges like OKX, Gate.io, and MEXC, fueling speculation about strategic accumulation. Still, broader sentiment remains cautious — the Altcoin Season Index sits at 39, well below the threshold for a market-wide altcoin rally, while centralized exchange balances for PI continue to rise, hinting at more potential sell orders in waiting.

The Road Ahead

Pi Coin’s immediate future will depend on two factors: whether the network can speed up migration to unleash its full user base, and whether it can roll out high-utility applications that attract real demand beyond speculative trading. Until then, the token remains at the mercy of its inflationary supply curve — and the patience of its community.

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The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

Author

Alexander Zdravkov

Reporter at Coindoo

Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.

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