Pi Crashes 35% in 30 Days — All Eyes on $0.50 Support
The Pi Network (PI) is reeling from a steep 35% price drop over the past month, with the token currently trading near $0.5379 — dangerously close to the critical $0.50 psychological support. A combination of mainnet migration failures, growing exchange inflows, and token movements by the Core Team is sparking fresh concerns of a deeper crash.
Mainnet Migration: From Hope to Chaos
Once seen as a gateway to Pi’s mass adoption, the mainnet migration has been marred by serious technical issues:
- KYC failures despite repeated verification attempts.
- 2FA glitches preventing access to wallets and transfers.
- Missing token balances post-migration, even for users who followed all steps.
These issues have triggered widespread frustration among Pi’s community, raising doubts about the network’s readiness for large-scale deployment.
Token Movements Suggest Core Team Sell-Off
On-chain data from PiScan reveals troubling activity:
- 7.9 million PI moved from a wallet labeled “Pi Foundation 2,” linked to the Core Team.
- 4.5 million PI shifted from three wallets connected to “Pi Foundation 4.”
Such large-scale movements are typically interpreted as either internal reallocation or preparation for liquidation, especially when paired with rising exchange deposits.
Exchanges See Surge in PI Deposits
Major centralized exchanges have recorded sharp increases in PI deposits:
- OKX: +3.09 million PI
- Bitget: +1.02 million PI
- Gate.io, MEXC, Pionex: Combined +4.91 million PI
This signals mounting sell pressure as more tokens hit trading platforms — often a precursor to price dumps, especially when buy-side liquidity fails to keep up.
Technical Outlook: Bearish Momentum Intensifies
Pi’s price action remains under pressure:
- Below key support at $0.5524
- MACD trending downward, signaling weakening momentum
- RSI at 31.52, indicating oversold conditions — but no reversal yet
- Failure to reclaim $0.60 could confirm a breakdown below $0.50
In the last 24 hours alone, PI price fell 0.6%, and 0.2% in the past hour, showing no bullish signs in the short term.
Conclusion: Breakdown Likely Without Immediate Support
Unless bulls stage a swift recovery, a crash below $0.50 appears highly probable. With technical indicators flashing red and millions of PI flooding exchanges, the Pi Network faces its most severe test yet in 2025.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.