Pi fell 94% during February, and to support its value and prevent further declines, its team transferred a total of 500 million tokens to their own wallets. The token reached an all-time low near $0.1460 and was trading around $0.16 as unlocks that increased supply and low liquidity amplified selling pressure.
The Pi core team decided to transfer a total of 500 million Pi tokens to themselves as the token experienced its biggest drop in history, plummeting 94% in market value. The funds were not moved to exchanges, but rather to their own accounts. This action coincided with an aggressive unlocking schedule that has injected a significant new supply into circulation.
This month was scheduled to see the largest unlock of the year, with an estimated 193.6 million Pi tokens slated for release. An additional 1.29 billion Pi tokens are expected to be released in the coming months. However, this scale of issuance, without a corresponding increase in demand, is putting downward pressure on the price.
The transfer was internal and did not involve public exchanges, but its timing coincided with the year’s largest monthly unlock schedule and persistent structural questions surrounding the liquidity and governance of the Pi Network, according to industry reports.
Why is Pi falling and what does the token’s future hold?
Trading activity remained subdued as Pi’s price declined. Daily volumes were reported to be below $20 million, and Pi was listed on only seven exchanges, with OKX noted as the sole Tier-1 platform carrying the token.
Analysts highlighted broader structural weaknesses, such as limited DeFi, gaming, or real-world asset integrations that would otherwise support utility-driven demand. Additionally, there is some legal uncertainty following a December 2025 lawsuit alleging insider trading.
Market participants should monitor scheduled launches, any changes to the foundation’s custody or distribution policy, and legal developments; these events will determine whether the price action stabilizes or remains susceptible to further supply-driven declines.
