Pi Network Shows Bearish Signals as Exchange Reserves Grow and Technicals Weaken

Pi Network (PI) is struggling to maintain positive momentum as centralized exchange reserves increase and technical indicators turn bearish. The token declined 0.50% on Monday, failing to build on Saturday''s 3.52% rebound during broader market weakness.

The project''s recent update on .pi domain auctions introduced a statistics page to track bid activity, but this development did not boost bullish sentiment. Network officials position these domains as foundational Web3 identifiers for Pi''s ecosystem—a utility play overshadowed by concerning on-chain dynamics.

Market observers note that rising PI supply on exchanges coincides with declining wallet balances held by the Core team. This combination of factors suggests increasing selling pressure could lead to further downside.