#PI unlocking 1.475 million tokens over the next 12 months—about 122 million per month—is indeed significant, but assuming it will automatically harm the price overlooks key factors. Token unlocks only pressure prices if demand doesn't keep up. If the project grows, gains adoption, or builds utility, increased supply can be absorbed.

Many successful tokens have gone through large unlocks and still appreciated in value. It's not just about supply—it's about how the team manages it, the narrative, market conditions, and community strength. Blanket fear around unlocks often misses the full picture.