Pi Network (PI), the ambitious mobile-first crypto project that once captivated millions of users with its promise of inclusive mining, is facing a fresh wave of selling pressure. As the token’s price continues to spiral downward, the question now is whether Pi bulls can wrest control and enforce a much-needed reversal, or if a flood of upcoming token unlocks will tip the balance further into bearish territory.
Technical Indicators Signal Weak Demand
As of June 3, 2025, Pi Network (PI) is trading at approximately $0.6442, up a modest 0.16% in the last 24 hours. But despite this small uptick, PI remains over 60% below its May peak of $1.66. The broader technical outlook paints a concerning picture.
The On-Balance Volume (OBV) continues to trend downward, indicating sustained sell-side dominance. Simultaneously, the Money Flow Index (MFI) is hovering in a neutral-to-bearish zone, signaling weak accumulation by buyers.
“Pi Network is in a technical squeeze,” said Nikhil Arora, a crypto strategist at BlockRoots. “Without significant demand or a structural catalyst, any short-term rallies could be temporary relief pumps.”
Pi Network (PI) Price History: May–June 2025
Below is a snapshot of Pi Network’s recent price performance leading up to June 3, 2025:
| Date | PI Price (USD) |
|---|---|
| May 1, 2025 | $1.22 |
| May 10, 2025 | $1.38 |
| May 20, 2025 | $1.59 |
| May 22, 2025 | $1.66 (Local Peak) |
| May 28, 2025 | $0.92 |
| June 1, 2025 | $0.70 |
| June 3, 2025 | $0.6442 (Current) |
As the table shows, PI has retraced sharply from its May highs, reflecting the impact of both technical resistance and fundamental pressures like token unlocks.
Resistance Zones Blocking Breakout Attempts
Analysts have identified immediate resistance around $0.66 and $0.80. Unless bulls can generate meaningful buying volume to overcome these levels, Pi Network may continue to trade sideways or dip further.
Support is currently holding around $0.60, but if this level breaks, a slide toward the $0.50 range could follow, particularly with bearish macro sentiment and upcoming token unlocks weighing on investor confidence.
Token Unlocks Could Flood the Market
Perhaps the biggest red flag on the short-term horizon is the schedule of token unlocks. According to on-chain data, more than 274 million PI tokens are expected to be released into circulation in June, followed by 233 million in July and another 132 million in August.
These unlocks, if not offset by increased demand, could apply downward pressure on the already struggling price.
“This is basic supply and demand,” said Lina Xu, an analyst at CryptoCompare. “If token unlocks continue without a major catalyst like an exchange listing or utility boost, price will likely weaken further.”
Centralization Concerns Linger
In addition to technical and tokenomic challenges, centralization concerns persist. The Pi Foundation currently controls over 92 billion tokens, spread across 2,000+ wallets, sparking fears about the network’s decentralization or lack thereof.
Critics argue that such concentrated token ownership could hinder organic price discovery and deter exchange listings from platforms like Binance, Coinbase, and Kraken.
Pi Network has yet to be listed on a major centralized exchange, and it remains heavily reliant on informal peer-to-peer trading and external price tracking platforms. This lack of visibility is holding back broader market adoption.
Can Bulls Enforce a Reversal?
While the short-term sentiment is cautious, some long-term bulls remain optimistic. Forecasts by niche analysts suggest PI could reach $2.38 to $2.80 by the end of 2025, but only if key developments materialize.
These include:
Listing on a Tier-1 exchange
Mainnet utility adoption
Reduced centralization via token distribution
Community-driven ecosystem expansion
Without these catalysts, however, a strong bullish reversal remains speculative.
Final Thoughts
Pi Network’s current market performance reflects a project caught between promise and pressure. On one hand, its early adoption model and strong community remain assets. On the other hand, centralization issues, upcoming unlocks, and lack of exchange listings continue to weigh heavily on momentum.
For bulls, the path forward is narrow, but not impossible. A breakthrough will require more than sentiment; it will require substance.
As one analyst succinctly put it:
“Pi’s vision is huge, but in crypto, only execution earns trust—and price.”
FAQs
What is the current price of Pi Network (PI)?
As of June 3, 2025, PI is trading at around $0.6442, slightly up on the day but over 60% down from its May high.
Why is Pi Network dropping in price?
The drop is due to sustained selling pressure, weak technical indicators, upcoming token unlocks, and centralization concerns.
When are the next PI token unlocks scheduled?
Over 274 million tokens will unlock in June 2025, with additional unlocks in July and August.
Can Pi Network recover in 2025?
Some forecasts suggest PI could reach up to $2.80 by year-end if major exchange listings and utility adoption occur.
Glossary of Key Terms
Token Unlock
Scheduled release of locked tokens into circulation, often leading to increased supply and potential price impact.
On-Balance Volume (OBV)
A technical indicator that uses volume flow to predict price direction.
Money Flow Index (MFI)
A momentum indicator that measures buying and selling pressure based on volume and price.
Centralization
A situation where a large portion of a cryptocurrency’s supply is controlled by a single entity or small group, potentially impacting its decentralization and credibility.
Sources and References
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