Pi Networkโs (PI) bearish streak continues in full swing, as the mobile mining pioneerโs native crypto plunged to an all-time low on Friday afternoon. Slumping 82.2% from the all-time high of $2.99 hit on February 26, 2025, Pi coin price is embattled with hefty crypto token unlocks and the lack of exchange listing action.
Pi Network Token Price Hits ATL: More Trouble Ahead?
The current all-time low of $0.493 surely raised some eyebrows due to Pi Networkโs (PI) coin now trading 11 cents below the major support level that was established during the mainnet launch. Hitting intra-day heights of $0.5955, Pi Network (PI) might have a hard time holding this level due to massive unlocks.
On Friday evening, Pi slightly pounded back up upon the news of a major partnership with Banxa, the international payment provider, offering regulatory compliant fiat-to-crypto solutions.
Sponsored
Harnessing accessibility, this could expand the Pioneer community to over 100 million active users, but a growing voice of dissatisfaction among Pi Network members has struck Pi Networkโs Reddit & Discord channels.
The developer team is being called out by the Pioneers for lack of transparency and slow listing action. The trouble for Pi Network (PI) started when Binance refused to immediately list Pi coin (PI) on their Spot services, despite 86% of voters on Binance Square requesting to do so.
While other major crypto platforms were also reluctant to list Pi Network (PI) this month, large holders have started selling off their PI coin stashes, judging by the negative Chaikin Money Flow (CMF) index.
Unfortunately, the Pi Network token unlock schedule from PiScan promises another 137.350M Pi coins to be poured into circulation over the next 30 days, making Pi Networkโs native coin the most inflationary altcoin out of the TOP 50 by global market capitalization at the moment.
On The Flipside
- The Relative Strength Index (RSI) hinted at an oversold position for Pi coin, with this metric balancing between 25 and 23 at the time of publication.
- The green Bollinger Band (BOLL) suggests a key support bubble at $0.493, which could put a halt in Pi Networkโs continuous double-digit downtrend.
Why This Matters
Pioneering the mobile crypto mining field, Pi Network has accountability for over 10 million community members, who have chosen to migrate to the mainnet, while the app has been downloaded over 113 million downloads worldwide.
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