TLDR
- Pi Network (PI) price hovers near all-time low at $0.54, down from peak of nearly $3
- Technical indicators show oversold conditions with RSI near 35 and MFI below 20
- Trading volume collapsed from $3 billion daily in February to under $100 million currently
- Exchange holdings increased 30% since March, raising concerns about sell pressure
- Major whale accumulated 290 million PI tokens worth approximately $150 million over three months
Pi Network continues to trade dangerously close to its all-time low as the cryptocurrency struggles with declining investor interest and technical challenges. The digital asset currently hovers around $0.54, marking a steep decline from its peak near $3.
The token has been trapped in a descending triangle pattern, which typically signals bearish momentum. Pi Network clings to horizontal support at $0.55, representing a critical threshold for bulls hoping to prevent further declines.
Technical indicators paint a mixed picture for the struggling cryptocurrency. The Relative Strength Index sits near 35, while the Money Flow Index has dipped below 20, both suggesting oversold market conditions.
These metrics historically precede price recoveries, particularly when accompanied by increased trading volume. However, recovery faces obstacles due to other market factors weighing on the token.
Trading Activity Reaches Multi-Month Lows
The most concerning development for Pi Network has been the dramatic collapse in trading volume. At its February peak, the coin recorded over $3 billion in daily trading activity according to CoinMarketCap data.
$Pi is trading at $0.62 and is just getting hammer down with each $BTC dip. The strength & power to go up is gone with an always decreasing trading volume.
The trading volume over the last weeks:
May 12th: $5.46B
May 19th: $1.53B
May 26th: $902M
Jun 2nd: $484M (so far)Sadly,… pic.twitter.com/KXXBUj01dv
— pinetworkmembers (@pinetworkmember) June 12, 2025
Current trading volume has plummeted to under $100 million daily. This represents a decline of more than 95% from peak levels.
The volume collapse indicates waning interest in the Pi cryptocurrency among traders and investors. Without renewed buying activity, the token faces difficulty breaking through resistance levels.
The first major resistance sits at $0.85, with the psychological $1 barrier representing an even greater challenge. Market participants note that sustained volume increases would be necessary for any meaningful price recovery.
Pi Network recently slipped over 3% in a single week, testing lows near the $0.40 range. The decline came amid migration issues ahead of a planned June 28 upgrade.
Exchange Holdings Signal Potential Sell Pressure
On-chain data reveals another bearish factor affecting Pi Network’s price prospects. Centralized exchange holdings have increased by over 30% since March.
Exchange balances jumped from 263 million tokens to nearly 347 million by mid-June. Gate.io leads with 163.2 million PI tokens, followed by Bitget and OKX.
Rising exchange balances typically indicate increased selling pressure as investors move tokens to trading platforms. The cumulative dollar value of PI held across exchanges now exceeds $187 million.
Net outflows continue from these exchanges, but inflows are arriving at a faster pace. This trend often represents a bearish divergence when combined with declining trading activity.
The pattern suggests investors are positioning for potential sales rather than long-term holding. Market analysts view this development as a headwind for near-term price recovery.
Whale Accumulation Creates Mixed Signals
Despite the bearish trends, one development has caught community attention. A single whale investor acquired over 290 million PI tokens over three months.
The accumulation spree began on March 6 and continued through mid-June. The holdings are valued at approximately $150 million at current prices.
Some community members interpret this as a bullish signal, suggesting confidence in the project’s future prospects. Others worry about increased wealth concentration and its potential market impact.
If Pi Network returned to its all-time high of $2.98, this whale’s position would be worth nearly $900 million. Even at the $1 level, the valuation would reach approximately $290 million.
The whale activity has sparked speculation about potential catalysts, including possible major exchange listings or mainnet developments. However, the timing and motivation behind the accumulation remain unclear.
Technical Patterns Suggest Volatility Ahead
Chart analysis reveals Pi Network trading within a symmetrical triangle pattern between $0.54 and $0.74. This compression often precedes explosive price movements in either direction.
🚨 $Pi price alert! 🚨
As $Pi continues consolidating inside a symmetrical triangle, price action is tightening between $0.54–$0.74.
📈 A breakout & retest near $0.74 could ignite a powerful rally of +1u or more!With #Pi2Day coming up on June 28, any bullish catalyst—like… pic.twitter.com/1WXI4QQ9qG
— Pi Barter Mall来购酷买 (@pibartermall) June 19, 2025
A decisive break above $0.74 could spark momentum toward the $1 milestone. Conversely, failure to hold $0.54 support might lead to tests of the $0.40 all-time low.
The Squeeze Momentum Indicator shows green bars on the histogram, indicating possible bullish pressure building. Black dots on charts suggest volatility compression that may result in sharp price action.
However, the Bull Bear Power indicator remains negative, showing sellers still dominate the market. The $0.51 support level represents a critical line in the sand for bulls.
Community sentiment remains mixed as Pi Network approaches its Pi2Day event on June 28. Pioneers hope the occasion will bring positive developments to reverse current trends.
The most recent trading data shows Pi Network at $0.54 with continued pressure from declining volume and exchange accumulation patterns.
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