Traders rushed to reduce risk across multiple assets, and smaller liquidity pools magnified the turbulence. The selloff quickly caught Pi in the crossfire, sending the token into a steep intraday slide before stabilizing later in the session. The rebound was encouraging, but not strong enough to remove uncertainty. Pi now trades in a narrow corridor where even small shifts in sentiment could dictate short-term direction.
Supply Event Becomes the Dominant Narrative
Instead of technical indicators or macro stories, the center of attention for Pi right now is supply. In December, 190 million new tokens are scheduled to enter circulation — a figure currently valued near $43 million. Normally, gradual unlocks distribute selling pressure across the market. This time, low liquidity raises the stakes: even a modest wave of tokens could ripple aggressively through the chart.
When trading depth is thin, price swings don’t require big sellers — routine orders can snowball into meaningful moves. And because recent losses have dampened market confidence, the December unlock suddenly carries greater psychological weight than previous ones earlier in the year.
Utility Expansion Adds a Secondary Catalyst
In parallel with the looming unlock, the Pi ecosystem is expanding. The project recently struck a partnership with CiDi Games to introduce Pi as a usable in-game currency across multiple titles. The initiative is designed to move Pi further into real-world activity and strengthen its economic loop rather than relying solely on speculative demand.
This timing creates an interesting contrast: fundamental utility growth on one side, short-term supply pressure on the other. Whether the market rewards the new adoption or focuses instead on dilution risk will heavily influence how Pi performs through the remainder of the year.
Fragile Outlook Heading into 2026
If buyers absorb circulating supply early — especially before December unlock flows fully hit exchanges — Pi could ride out the turbulence with minimal downside. In the opposite scenario, weak demand might allow the price to drift toward a deeper retracement, with analysts marking the $0.2100 level as a potential retest zone if momentum continues to fade.
December is shaping up to be a decisive month for Pi: not because of a new storyline, but because liquidity, psychology, and token distribution are all converging at once. The outcome of that mix may set the tone for Pi’s direction entering early 2026.