Key Takeaways:
- Pi token has dropped 14.7% in a week, trading near key support at $0.47.
- Token unlocks and increased exchange inflows are driving sell pressure.
- Technicals remain weak; bullish recovery needs a reclaim of $0.53 or major adoption catalysts.
The Pi Network is navigating a turbulent stretch as its native token suffers a steep price correction. Currently trading at $0.4710, Pi has dropped 2.7% in the last 24 hours and 14.7% over the past week, with bearish sentiment dominating the charts. This recent decline is driven largely by a significant token unlock event and increased exchange activity.
Token Unlock Spurs Market Shock
A key driver of Pi’s price plunge is the recent release of 270 million Pi tokens. This sudden increase in circulating supply has triggered a supply shock, flooding the market and pushing prices lower. Within just 24 hours, over 6 million Pi tokens, valued at approximately $2.8 million, were transferred to exchanges, amplifying sell-side pressure.
Despite a modest 2.87% increase in 24-hour trading volume to $82.73 million, the inflow of tokens suggests a market dominated by distribution rather than accumulation. With the current market cap at $3.59 billion, Pi’s short-term outlook remains clouded by excess supply and cautious sentiment.
Technical Indicators Signal Ongoing Bearish Momentum
Pi’s technicals add to the gloomy forecast. The Relative Strength Index (RSI) currently sits at 34.94, suggesting the asset is veering into oversold territory. However, without a bullish divergence, this oversold signal is not enough to hint at a reversal.
The MACD (Moving Average Convergence Divergence) also confirms bearish momentum, with no signs of convergence yet. On the daily chart, Pi remains below both the 20-day Simple Moving Average and the middle Bollinger Band, while trading dangerously close to the lower Bollinger Band at $0.4514—a pattern historically tied to potential volatility spikes.
Mining Rate Increase Reflects Continued Engagement
In contrast to the bearish price action, Pi’s mining rate has ticked up by 0.93%, rising from 0.0029887 to 0.0030165 Pi per hour. While modest, this signals ongoing user engagement and miner activity across the Pi ecosystem.
Also Read: Pi Network Price Prediction 2025: Could PI Coin Hit $10 After Binance Listing?
Still, unless the long-awaited Open Mainnet launch materializes or real-world utility use cases emerge, this growth in network activity may not be enough to reverse the price trend in the near term.
Despite strong community engagement, Pi Network’s path to $1 in 2025 faces significant hurdles. For a bullish turnaround, the token must first reclaim the $0.53 level, then aim for breakouts at $0.61 and $0.70. Until then, the neutral-to-bearish bias prevails.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
