Pi Network’s token has entered another volatile phase after shedding over 60% of its value since mid-May, crashing from a local high near $1.70 to $0.61 as of June 5, 2025. The price erosion comes amid persistent selling pressure and no visible support from the Pi Core Team, whose silence frustrates early contributors and traders alike.
Despite launching its open mainnet in February, the project has failed to clarify its roadmap or provide meaningful updates about network development, user incentives, or future exchange listings.
In stark contrast to this leadership vacuum, several community-managed or affiliated social media accounts continue to flood platforms like X with speculative, often delusional claims. For instance, several X posts speculate a PI coin price target of $1,000 and a global mainnet user base of 500 million—neither of which has any substantiated basis.
These posts, often presented as official-looking updates, are rarely challenged and continue circulating among hopeful followers. The gap between hype and actual project execution has never been more visible.
As disillusionment deepens, the divergence between the token’s collapsing price and the community’s unrealistic expectations raises serious questions about sustainability and investor trust.
Investor Exodus and Community Backlash Undermine Pi Network’s Stability
Pi Network’s token faces intensifying bearish pressure as investor confidence continues to erode. HolderScan data shows the number of active holders has stagnated at 14,952 as of early June 2025, with two prominent red outflow spikes signaling large-scale exits.
These outflows far outweigh the modest accumulation attempts, reflecting a broader retreat from the project. PI’s market cap has collapsed to roughly $450,000, coinciding with its price plunge from $2.99 on Feb. 26 to $0.61 by June 6—an almost 80% drawdown.
Community sentiment has turned sharply negative since the open mainnet launch on Feb. 20. On Binance Square, users accused the core team of opacity and failure to deliver. CryptoCadet7 called out the network’s “vague promises,” while another user, a long-time node operator, complained about being “kept in the dark” despite sustained contributions.
Meanwhile, others raised red flags around centralization, openly questioning whether the project’s leadership structure contradicts its decentralization claims.
The lack of a roadmap and the sidelining of node operators, once positioned as core contributors, compounded the frustration. Some users said early supporters felt “undervalued,” a sentiment echoed across other Pi-focused forums.
The failed expectations around “Pi Day” in March 2025, especially the absence of a Binance listing, further worsened sentiment. Combined with the release of 129 million new tokens in March, the growing supply imbalance threatens to keep PI under prolonged selling pressure.
Unless the team urgently addresses transparency, real-world utility, and governance concerns, the token’s declining user base may accelerate, cementing a prolonged bearish phase. Moreover, the core team’s silence could also hurt PI coin’s chances in regions like India, where the PI INR pair has attracted many users.
Price Action Continues Crabbing
Pi Network’s price action remained trapped under pivotal resistance levels, with no apparent bullish reversal in sight. After a brief attempt to reclaim higher ground in mid-May, PI has failed to generate follow-through volume, stalling near the $0.7841 resistance zone.
This level, along with the 50-day EMA (purple wave) has repeatedly capped upside attempts. Price has since retraced and now trades just above $0.61, precariously close to the 0.5 Fibonacci level.
The most immediate barrier to recovery remains the $0.7841 resistance. Above this, the $0.9677 resistance is the next major hurdle, corresponding with the 0.786 Fib retracement. Failure to flip $0.7841 could keep PI locked in a broader downtrend.
On the downside, the first key support rests at $0.5271, near the 0.382 Fib level. This area has provided a temporary cushion during past selloffs but shows signs of weakening.
If broken, bears would likely target the next support near $0.3649, last defended in early March. This zone also coincides with a critical low-volume node, making it structurally vulnerable if tested again.
The RSI hovers below the 50 mark, signaling a lack of bullish momentum and declining trader conviction. Volume has also thinned out substantially, suggesting that interest in the asset is fading. The broader structure favors lower highs and deeper retracements until Pi Network token decisively breaks above $0.7841 with sustained volume.
PI’s chart points to a deteriorating outlook in the near term without fresh catalysts or credible adoption signals. Before dreaming of $1,000 price tags, PI coin price needs to conquer the $1.000 price mark.
