Pi Network price hits new ATL as June token unlocks loom

Pi Network price has slid to a fresh all-time low after heavy token unlock pressure and thin market liquidity triggered another round of selling across the ecosystem. Per data from crypto.news, Pi Network (PI) traded near $0.130 on June 5 after plunging to a new record low of roughly $0.126. The token has now shed more than 30% over the past month, extending a downtrend that has lingered since its March rally fizzled out.

A major source of pressure continues to come from the network's token release schedule. PiScan data shows more than 159 million PI tokens are still slated 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. Nothing like a flood of new supply meeting a puddle of demand.

That extra supply is arriving at a time when market liquidity remains thin. Daily trading volume has slipped below $20 million across major exchanges, leaving the token exposed 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 piling further pressure onto 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. Introducing the CiDi Developer Center. For game developers building for Pi: 🎮 Plug into a growing community of pioneers 💰 Multiple revenue streams built in ⚡ SDK ready, integration in days CiDi isn't just a platform. It's becoming the infrastructure for games inside Pi.… pic.twitter.com/l29p9lw6nF — CiDi Games (@PlayCiDi) June 2, 2026

Whale activity has also drawn attention in recent weeks, although those developments have so far failed to offset concerns around rising token supply. A recent X 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. 🚨 $PI is waking up… and most people are still sleeping. After dipping to $0.128, Pi Network just bounced back to $0.198 — a +50% recovery move. Now price is pushing toward the $0.20 resistance again. If this level breaks, the next leg could send $PI into a new momentum… pic.twitter.com/3gRT0iVvET — Whale Hunter (@WhaleHunterReal) June 2, 2026

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 to the downside. PI continues to trade below its Supertrend resistance at roughly $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 bar