Pi Network price has fallen to a fresh all-time low after heavy token unlock pressure and weak market liquidity triggered another wave of selling across the ecosystem.
According to data from crypto.news, Pi Network (PI) price traded near $0.130 on June 5 after plunging to a new record low of approximately $0.126. The token has now lost more than 30% over the past month, extending a downtrend that has persisted since its March rally faded.
A major source of pressure continues to come from the network’s token release schedule. Data from PiScan shows that more than 159 million PI tokens are still scheduled to enter circulation this month, with daily unlocks averaging over 5 million tokens. The largest single-day unlock is expected on June 11, when nearly 16 million PI will become available for trading.
The additional supply arrives at a time when market liquidity remains thin. Daily trading volume has slipped below $20 million across major exchanges, leaving the token vulnerable to large sell orders from early miners and long-term holders who recently completed KYC verification and mainnet migration.
Outside the Pi ecosystem, sentiment across digital assets has deteriorated sharply. Bitcoin (BTC) briefly fell to an intraday low near $61,550 on June 4, while Ethereum (ETH) dropped below $1,800.
CoinGlass data shows the selloff triggered more than $1.6 billion in liquidations across leveraged crypto positions, reducing appetite for speculative altcoins and adding further pressure to Pi Network’s price.
Network activity has offered a mixed picture. CiDi Games recently launched a Developer Center alongside four new games designed to attract builders and users into the Pi ecosystem.
Whale activity has also attracted attention in recent weeks, although those developments have so far failed to offset concerns surrounding rising token supply.
A recent post from Whale Hunter highlighted the sharp rebound that followed PI’s previous drop to $0.128.
The analyst added that buyers had started returning to the market and argued that a break above $0.20 could trigger renewed momentum.
Falling wedge breakdown opens the door to lower prices
As crypto.news previously reported, Pi Network price was nearing a critical test of falling wedge support on the daily chart. Buyers failed to defend that level, allowing sellers to force a breakdown that eventually pushed the token to a new record low around $0.126.
Pi Network price has confirmed a bearish breakout from a falling wedge pattern on the daily chart — June 5 | Source: crypto.news
The decline also took PI below the psychological $0.13 support zone, a level that had repeatedly attracted buying interest in recent months. Although the token managed to recover part of the loss, the breakdown has left the market focused on whether the next wave of June unlocks could trigger another move lower.
Technical indicators remain heavily tilted toward the downside. PI continues to trade below its Supertrend resistance at approximately $0.151, while price action remains well beneath its major short- and medium-term moving averages. The chart has also produced a sequence of lower highs and lower lows since March.
Meanwhile, the MACD remains in bearish territory, with the MACD line still positioned below the signal line. Although histogram bars have started to contract, buyers have yet to generate enough momentum to reverse the prevailing trend.
June token unlocks keep $0.10 level in focus
The most important support now sits near the recent low between $0.126 and $0.13. A decisive break below that zone would place PI in new price-discovery territory and expose the psychologically important $0.10 level.
Token unlocks remain the primary risk factor throughout the month. Fresh supply entering circulation could increase exchange inflows and intensify selling pressure, particularly if crypto market sentiment remains weak.
On the upside, bulls would first need to reclaim the former breakdown area near $0.14 before attempting a move toward the Supertrend resistance around $0.15. Above that, the next notable resistance zone sits between $0.18 and $0.20, where multiple recovery attempts failed during May.
Until buyers absorb the upcoming unlocks and reclaim key resistance levels, the chart structure continues to favor sellers, with the $0.10 threshold emerging as the market’s next major downside target.
