Pi Network’s Make-or-Break Moment: Can It Survive the Crypto Rollercoaster?

Crypto's wildest underdog faces its ultimate test.

Pi Network—the project that turned 'mining' into a mobile game—is teetering between reinvention and irrelevance. After 2023's brutal bear market wiped out speculative excess, its community now demands deliverables: Mainnet or bust.

The patience playbook is fraying

Three years of 'coming soon' updates clash with today's hyper-competitive L1 landscape. Ethereum scales, Solana rebounds, and Bitcoin ETFs hoover up institutional cash—while Pi's 'free crypto' narrative fights for oxygen.

Devs swear the pieces are falling into place. KYC bottlenecks? Mostly solved. Exchange listings? Imminent. (Though as any degens knows, 'imminent' in crypto could mean tomorrow or 2027.)

Zero-to-hero—or zero left?

The project's saving grace? A cult-like user base that treats mining sessions like daily meditation. But blind faith doesn't pay gas fees. If Pi's closed ecosystem can't onboard real dApps by Q4, even true believers might swap their holdings for the next shiny thing.

One hedge fund manager's take: 'It's either the greatest grassroots adoption story since Dogecoin—or a $0 balance waiting to happen.' Place your bets.

In brief

• The PI token plummeted sharply to $0.40 before rebounding around $0.53, triggering strong market reactions.
• The technical threshold of $0.57 acts as major resistance, with potential bullish targets at $0.61 and even $0.71.
• Meanwhile, fundamentals remain very fragile: more than 346 million PI tokens are now stored on exchanges.
• The absence of listing on Binance or Coinbase and the lack of concrete DApps amplify investor skepticism.

A technical rebound in sight?

While Pi Network faces major bugs and an angry community, the crypto price dropped to $0.40 on June 13, its lowest level since April, before partially retracing to around $0.53 according to CoinGecko data.

This sharp drop occurred amid a tense geopolitical climate, notably marked by tensions in the Middle East, which slowed the momentum of the entire crypto market. However, some indicators suggest a potential trend reversal.

The RSI (Relative Strength Index) of the PI token is currently NEAR 32, according to TradingView data, placing it at the border of the oversold zone. In technical analysis, an RSI near or below 30 suggests the asset is potentially undervalued and could experience a rebound.

Other technical signals support this short-term bullish scenario:

• The Squeeze Momentum Indicator displays “black dots,” a sign of a consolidation phase often preceding stronger price movements;
• The momentum histogram shows a succession of green bars, indicating a gradual recovery of buying pressure;
• The resistance level at $0.57 constitutes a critical barrier, with potential bullish targets at $0.61 and even $0.71.

In summary, while technical analysis of on-chain data seems to offer a glimmer of optimism, this potential rebound remains dependent on an unstable environment that could shake the most promising setups.

Fundamentals Still Very Fragile

While some technical indicators suggest a possible reversal, fundamental signals point to a more concerning situation. In recent weeks, one data point in particular has caught analysts’ attention: the significant increase in the volume of tokens transferred to centralized exchange platforms.

More than 346 million tokens are now held on exchanges, about 82 million more than a month ago. This trend, often interpreted as a signal of impending sales, weakens the prospects for a rebound.

Even MOON JEFF, a usually optimistic crypto investor, highlighted this potential pressure.

Who is rugging $PI .
We all agreed to hold waiting for ATH.
If you sell now you have already lost it.
You might be selling the floor. #PiNetwork pic.twitter.com/DncBGBXa39

Adding to this dynamic is another significant factor: the gradual arrival of 337 million additional tokens on the market over the next 30 days, according to PiScan data. An injection equivalent to nearly 185 million dollars at the current price in an already strained market represents a considerable risk of overselling pressure.

This fragility is even more marked because Pi Network is still not listed on major platforms such as Binance or Coinbase, limiting its liquidity and access to institutional investors.

In the face of this dynamic, PI Network’s outlook remains uncertain. The community event on June 28, Pi2Day, could play a crucial role in shaping sentiment around the project. If it results in concrete and credible announcements, it could revive interest and mark the start of a solid recovery. Conversely, unclear or disappointing communication could amplify sales and push the token below its lowest levels.

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