Entering 2026, Pi Network has reached a critical moment in its development. The project team announced that approximately 134 million Pi Coins will be unlocked and enter circulation this month. This event, often viewed as a major bearish signal, has instead sparked an interesting shift in community narratives. Supporters are no longer focusing on short-term price shocks but are emphasizing the ecosystem's progress, including over 215 active applications, 15.8 million mainnet migration users, and AI-driven KYC verification advancements.
Meanwhile, the price of [Pi Coin](
https://www.gate.com/zh/price/pi-network-pi) hovers around $0.21, with a daily trading volume of only $16 million. Yet, on technical charts, a potential bullish "double bottom" pattern is quietly forming. This article will analyze the profound impact of this token unlock on the Pi Network ecosystem and explore whether it can absorb the increased supply through practical applications, making the difficult leap from a "social mining" concept to a functional blockchain network.