TradingviewThe Pi Network coin, PI, has erased more than 60% of its gains from May 2025, collapsing from a short-lived breakout near $1.70 to just $0.64 on June 3. The sharp decline follows weeks of disillusionment within the Pi Network community, as enthusiasm over a potential ecosystem revival gave way to renewed skepticism and bearish momentum.
Despite broader crypto market attempts to rebound, PI remains one of the few tokens trending downward in sentiment and price action.
The token’s failure to hold support levels has raised alarms across trading desks and social media channels. At the same time, the Pi Core Team’s most recent announcement—a mobile game called FruityPi—has done little to restore confidence. Market participants expected major infrastructure updates or a timeline for the main net transition.
Instead, they got a gimmick. The project’s hope-fueled fans continue to share wildly unrealistic updates across social media, the most common one being PI coin price reaching $1,000 and then $314,159 someday soon. Fundamentally, the project’s silence on key issues like migration delays, KYC bottlenecks, and external listings only deepens the stagnation narrative. Until tangible progress emerges, PI remains vulnerable, and speculative traders are beginning to rotate capital elsewhere.
Technical Setup Threatens Further Losses For The Pi Network Token
Pi Network coin price is moving inside a technical setup called the bear flag pattern, a continuation structure that typically forms after a steep downward move. The flag itself slopes slightly upward or sideways, representing temporary consolidation, while the preceding sharp decline acts as the flagpole.
The technical setup often resolves with a breakdown, continuing the prior bearish trend. Traders calculate the pattern’s projected price target by measuring the flagpole height and then applying it from the breakdown point to establish the downside target.
Price action remains confined beneath the 20-day EMA, which has acted as dynamic resistance. The structure has already breached the lower flag support, confirming a potential continuation of the downtrend. If momentum sustains, the token risks a drop toward the support near $0.53. Losing this level would validate the bear flag’s full target near $0.503. A breakdown below this secondary level would expose the Pi Network coin’s price to the next major support near $0.365.
The RSI remains weak, with a score of 41.02, reflecting persistent selling pressure. Volume has been declining through the flag, a common feature of this pattern, suggesting that a breakout move could occur with renewed intensity. In case of a reversal, bulls would need to clear the immediate resistance near $0.784. Flipping that level would open the gates to challenge the resistance near $0.967.
Lack of Progress and Utility Undermines Bullish Prospects
While technical indicators forecast further downside for PI coin, the fundamental picture offers no support to counterbalance the bearish outlook. The project’s latest announcement—FruityPi—exemplifies a growing disconnect between community expectations and project execution.
Market participants were promised ecosystem development, real-world adoption, and a transition to an open network. Instead, they received a fruit-merging game wrapped in promotional jargon. The timing of this release, amid prolonged silence on critical milestones, has raised serious questions about the Pi Core Team’s priorities and strategy.
The game’s stated objective is to showcase Pi Network’s internal integration—wallet, token, and ad monetization. Yet, no meaningful metrics have been disclosed to validate its success. There are no user engagement figures, no impact on market cap, and no clarity on developer traction.
Even public search interest for PI to INR has stagnated, reflecting fading retail enthusiasm in Indian markets which has a significant Pi Network user population. Meanwhile, the token continues to hover near multimonth lows, reinforcing the perception that the announcement was a distraction, not a step forward. The absence of actionable updates, particularly on KYC resolution and open mainnet launch, continues to erode community trust.
Millions remain stuck in migration limbo, unable to realize their balances, while regulatory scrutiny intensifies. Investor confidence, already fragile, is being further undermined by a tokenomics model bloated with supply and unanchored by demand. Declining sentiment, stagnating price, and mounting social discontent reflect an ecosystem collapsing under its own weight. The fundamentals confirm the same message as the charts: lower prices lie ahead.
