PiScan data shows that 19.2 million PI tokens are set to be unlocked on July 4, marking the largest unlock of the month. Typically, token unlocks boost the available supply in the market, increasing the risk of a potential sell-off in the days after the event.
Pi Network Risks Further Losses to $0.40
Pi Network saw a modest rebound of over 1% on Wednesday following six consecutive days of losses. Despite last week's surge to a high of $0.6667, the token ended the week with only a 5.94% gain.
Currently, Pi is approaching critical support at $0.4711 — the lowest price recorded on June 22. A daily close below this level could open the door for a deeper decline toward $0.4000, a key support previously tested on April 5 and June 13.
Moreover, with prices closing below $0.5031 — the lowest daily close since February — the risk of further breakdowns is rising, potentially intensifying bearish pressure.