TLDR

Pi Network (PI) is trading around $0.64 and struggling to break past $1 resistance despite MEXC exchange listing
Analyst Dr Altcoin predicts price could drop to $0.40 by August due to lack of transparency from the Pi Core Team
June will see 274.4 million Pi tokens unlock, adding selling pressure worth approximately $169 million
The Pi Foundation controls over 90 billion tokens across 2,000+ wallets, creating centralization concerns that deter major exchanges
Technical indicators show bearish momentum with key support at $0.60-$0.62 range determining next price direction

Pi Network is currently trading at approximately $0.64, finding itself at a crossroads that could determine its short-term trajectory. The cryptocurrency has been unable to break through the $1 resistance level despite recent positive developments.

The token recently gained attention after being listed on MEXC exchange. However, this development has not provided the expected price boost that investors hoped for.

Pi Network
PI Price

Technical analysis reveals that Pi Network is trading within a descending channel pattern. The 50-period EMA at $0.7225 has transformed from support to resistance, creating additional hurdles for any potential recovery.

Dr Altcoin, a cryptocurrency analyst, has issued warnings about Pi Network’s price prospects. He believes the token could decline to $0.40 by the end of August if current conditions persist.

The price of Pi will likely continue to decline until the end of August, after which it may slowly start to recover. I previously predicted it could drop to $0.40—unless the Pi Core Team becomes transparent. No investor wants to put money into something where the founders refuse… pic.twitter.com/KEvAwOyhX9

— Dr Altcoin (@Dr_Picoin) May 28, 2025

The analyst points to transparency issues with the Pi Core Team as a primary concern. He states that investors are reluctant to commit funds to projects where founders lack openness about operations and development progress.

Pi Network dropped to a low of $0.604 over the weekend before recovering slightly to $0.6280. This price action has intensified fears of a broader correction among traders and investors.

The MACD indicator has shown a bearish crossover on the 4-hour timeframe. This technical signal often precedes further downward movement in cryptocurrency prices.

Token Unlock Pressure Builds

June presents a challenge for Pi Network with 274.4 million tokens scheduled for release. At current prices, this unlock represents approximately $169 million worth of tokens entering circulation.

These token unlocks come at a time when Pi Network is already facing downward pressure. The timing could exacerbate selling pressure and push prices lower.

The Pi Foundation currently maintains control over more than 90 billion tokens. These holdings are distributed across over 2,000 different wallets, raising centralization concerns among the cryptocurrency community.

This centralized token distribution has prevented major exchanges like Binance and Coinbase from listing Pi Network. The lack of major exchange support limits liquidity and market exposure for the cryptocurrency.

Support Levels Under Scrutiny

The $0.60 to $0.62 price range represents critical support for Pi Network. Technical analysts are closely monitoring this zone for potential breakdown or bounce signals.

If the $0.6052 support level fails to hold, analysts warn of a potential 40% decline. This scenario would bring Pi Network’s price down to the $0.40 target mentioned by Dr Altcoin.

Momentum indicators show some early signs of stabilization on shorter timeframes. The RSI has moved away from oversold conditions, suggesting room for potential upward movement.

The MACD histogram has turned green on some timeframes, indicating possible shifts in short-term sentiment. However, the overall trend remains downward across most technical indicators.

Community sentiment appears to be weakening amid ongoing transparency concerns. Social media discussions reflect growing frustration with the lack of updates from founders Nicolas Kokkalis and Chengdiao Fan.

Despite recent gaming ecosystem updates from the core team, many community members feel these developments fall short of addressing fundamental concerns about the project’s direction.

A sustained breakout above $0.7200 with volume confirmation would be needed to signal an end to the current downtrend. Until this occurs, Pi Network remains vulnerable to further declines.

The cryptocurrency launched at $3 in February 2025 but has since lost more than 78% of its value, highlighting the volatile nature of its price movements.

The post Pi Network (PI) Price: Critical Support Test After 78% Drop from Launch appeared first on CoinCentral.

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Filed under: News - @ June 2, 2025 7:29 am