On August 25, 2025, the Pi Foundation transferred 550 million PI tokens through six large transactions. Each ranged from 50 million to 100 million PI, according to blockchain data compiled by The Times of Pi Network. All movements originated from the Pi Foundation wallet.
As of now, the foundation has not issued an official statement explaining the purpose behind these transfers.
Community Speculates on Migration Phase Two
The sizable transactions have sparked speculation among Pi Network users. Several Pioneers believe this movement could signal the start of a second token migration. The first migration phase, which began years ago, remains incomplete for many. Referral bonuses and unverified balances are still pending for a large portion of users.
A Pi Network moderator recently confirmed that a second migration phase in 2025 is “possible.” This comment, along with the recent token movements, revived interest among the community and raised expectations for progress.
Possible Link to Pi Ventures Fund
Some community members suggested the transfer could be connected to the Pi Ventures Fund. The foundation recently backed OpenMind, an AI robotics firm, with a $20 million investment. Observers noted that transactions of this size often indicate preparations for strategic partnerships or major internal shifts.
On-chain analysts noted that such activity is rarely tied to routine operations and often precedes structural developments within the project.
Pi expert Woody Lightyear shared new statistics on wallet distribution. According to him, over 14.4 million Mainnet users hold between 0 and 100 PI. This confirms a high degree of fragmentation in PI ownership, with most Pioneers controlling small balances.
As large transfers unfold, questions persist about how future migrations may affect the distribution of tokens and whether unresolved balances will be addressed.
Analysts noted that large-scale wallet movements could impact market behavior. While PI is not listed on major exchanges, community-led markets and internal price tracking tools often react to visible blockchain activity.
Traders and Pioneers are now watching closely for any official migration updates or further token movements.
PI Price Stays Below Resistance as Downtrend Persists
The PI/USDT pair remains locked in a clear downtrend, as seen in the 4-hour chart from TradingView. The price continues to trade below both the descending trendline and the 50-period exponential moving average (EMA), which currently sits at $0.3530. This EMA level has acted as resistance since early August, repeatedly rejecting upward attempts and confirming persistent bearish pressure.
Despite occasional spikes in volume, including a notable increase around August 10, the price failed to sustain momentum above $0.40. Each rally attempt has been followed by lower highs, reinforcing the dominance of sellers. As of the latest 4-hour candle, PI is trading near $0.3419, with minimal gains and weak bullish momentum.
The Moving Average Convergence Divergence (MACD) indicator offers a neutral to slightly bearish signal. While the MACD line has crossed above the signal line, the histogram remains near zero, indicating limited strength behind any upward move. The volume also shows no consistent buildup to support a trend reversal.
As long as the price stays under the descending trendline and below the 50 EMA, downside pressure is likely to continue. A break above $0.3530, supported by volume and MACD confirmation, would be needed to shift sentiment. Until then, the bias remains bearish, with further downside possible if support at $0.3200 fails.
PI RSI Hints at Weak Rebound After Oversold Dip
The Relative Strength Index (RSI) on the 4-hour PI/USDT chart currently sits at 42.97, slightly below the neutral 50 level, suggesting mild bearish momentum. The RSI recently rebounded from oversold territory after dipping below 30 on August 25, which often signals short-term exhaustion in selling pressure. However, the bounce remains shallow.
The RSI’s 14-period moving average, plotted in yellow at 35.65, continues to lag below the RSI line itself. This shows the indicator is recovering, but slowly, and still lacks strong bullish momentum. The RSI failed to break above 50 during several past recovery attempts in August, showing sellers continue to dominate rallies.
Unless the RSI decisively crosses the 50 threshold with strength, the price is unlikely to shift out of its current downtrend. Momentum remains capped, and weak buying interest suggests the market lacks conviction.
Stochastic Momentum Index Shows Weak Recovery Signal for PI
The Stochastic Momentum Index (SMI) on the 4-hour PI/USDT chart displays a modest upward crossover, with the blue SMI line at 15.08 and the orange signal line at 10.84. This indicates a slight bullish divergence, signaling a possible short-term recovery from oversold levels. However, both lines remain well below the mid-level (40–60 zone), suggesting that upward strength is still limited.
Throughout July and August, the SMI has oscillated sharply without sustaining strong trends. This behavior reflects a choppy, low-momentum market. Recent crossovers have failed to trigger lasting price moves, highlighting a lack of conviction in either direction. The current crossover, although technically bullish, comes after repeated failed attempts to break above the zero line.
For momentum to build, the SMI would need to maintain direction and rise above 40 with broader confirmation from price action and volume. Until then, the signal remains weak, and short-term traders may treat this as a potential bounce within a larger downtrend rather than a full reversal.
