Millions and millions of PI tokens will be released in the coming weeks, which could cause even more pain for the bulls.
Naturally, Pi Network’s PI token was not spared and fell to a new all-time low of less than $0.135 (on CoinGecko). This meant that assets have fallen by more than 30% in the last month alone. On a broader scale, the PI has fallen more than 95% since its all-time high on February 26, 2025.
Despite this massive correction, some members of the always vocal and optimistic Pi Network community tried to find the silver linings. This one is for example outlined the skyrocketing PI transaction volume, which he says “shows increased interest in PI despite the whales’ manipulation games.”
This one was even more bullish, to predict a stunning increase to $4 from the current dip in the first six months after the second Mainnet migration and once legacy Pioneers (Pi Network users and investors) are done selling.
More pain to come?
If we’re realistic, it’s hard to imagine such a rally happening anytime soon. Not only because the overall crypto market seems to be dominated by the bears, but also because of PI’s recent price performance and the unlock schedule for new tokens.
Data from PiScan shows that an average of almost 8 million coins will be released in the coming month. What is even more worrying is the fact that this number will skyrocket to over 18 million on February 12 and to 23.6 million on February 13.
Such a huge number of tokens to be unlocked could result in more immediate selling pressure from investors who have been waiting a long time for their holdings to become available for trading. This is especially true in times of panic.
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The good news
On the plus side, the chart above shows that the number of unlocked tokens will decline and normalize after February 20, which could ease selling pressure. Additionally, rumors are circulating online that one of the largest and oldest exchanges, Kraken, might be planning to list Pi Network’s native token, which could increase its liquidity and legitimacy among investors.
🚨 BREAKING: Kraken Exchange is
preparing to integrate the Pi blockchain and list $PI for trade 👀
If confirmed, this could be an important step for the adoption of the Pi ecosystem.
⁰Eyes focused on what comes next.#PiNetwork #PI #Kraken #CryptoNews #Altcoins pic.twitter.com/BAWZLcGQnH— SMC KAPIL DEV (@smckapildev) February 6, 2026
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