Pi Network Faces Intense Selling Pressure in November Amid Market Challenges

Bearish Signals Dominate Pi Network’s November Outlook

In the broader cryptocurrency market, where altcoins continue to grapple with post-peak volatility and reduced investor enthusiasm, Pi Network’s native token (PI) is exhibiting clear signs of downward pressure. Having already declined over 90% from its all-time high, PI’s current trading range around $0.20 reflects ongoing challenges in liquidity and supply dynamics. This situation underscores a trend among mobile-mining projects, where token unlocks and exchange inflows often exacerbate price corrections in a risk-averse environment.

Surging Token Unlocks Intensify Supply Pressure

Data indicates a significant increase in PI token unlocks, contributing to potential oversupply in the market. Daily unlocks have reached up to 4.85 million PI, with projections estimating 145 million PI released over the next 30 days. This trend is set to accelerate, as December alone could see over 173 million PI unlocked—the highest monthly volume until September 2027.

• Such unlocks represent a steady influx of new supply, which historically correlates with price suppression in illiquid assets like PI.
• In the context of PI’s total maximum supply exceeding 100 billion tokens, these releases highlight the project’s phased distribution model, originally designed to incentivise early adopters but now posing risks to short-term price stability.

Exchange Reserves and Trading Volume Signal Weak Demand

Exchange balances for PI have climbed to record levels, further evidencing selling intent among holders. Early November reports showed approximately 423 million PI on centralised exchanges, a figure that rose to nearly 426 million by mid-month—an all-time high. This accumulation suggests tokens are being positioned for sale, amplifying downward momentum. Trading activity remains subdued, with 24-hour spot volume lingering around $30 million. Last month’s total trading volume dropped to $1.2 billion, declining in tandem with price, which points to diminishing liquidity.

• Low volume implies limited buyer interest, making PI vulnerable to sharp sell-offs from even modest supply increases.
• Monthly reserves data show a consistent upward trajectory, from under 400 million PI earlier in the year to the current peak, potentially deterring new investments amid broader market uncertainty.

Community Perspectives Offer Counterbalance to Bearish Data

Despite the prevailing indicators, segments of the Pi community maintain a bullish stance, emphasising long-term fundamentals over immediate pressures. Supporters argue that the actual circulating supply stands at around 3 billion PI, far below the maximum, and that the Pi Core Team has refrained from aggressive selling. One prominent voice, an X user identifying as a Pioneer under the handle Dao World, stated:

“Even though $Pi has a large max supply, considering that the CT has not been aggressively selling tokens and the actual circulating supply is only a little over 3B, and price action is largely managed by MM on a few exchanges — am I the only one who thinks that when it’s time for the real demand to kick in, this thing is going to fly?”

This view is echoed by other Pioneers, who see the sub-$0.20 levels as an attractive entry point, anticipating future utility-driven appreciation once selling pressure subsides. However, the extent of market maker influence remains unverified and could introduce volatility risks. As Pi Network navigates these dynamics, the interplay between supply releases and community-driven demand will be critical. What could this mean for the future of mobile-based cryptocurrencies, particularly in sustaining user engagement amid prolonged price weakness?