Pi Network (PI) Tests Critical $0.50 Support Amid Heavy Selling Pressure

Pi Network (PI) is hovering NEAR the crucial $0.50 psychological level, marking its fifth straight day of losses. The token's 10% weekly decline comes amid concerning on-chain signals and exchange dynamics that point to potential further downside.

Core team wallets have unloaded 7.8 million Pi tokens within 24 hours, significantly increasing market supply. Three legacy addresses associated with Pi Foundation funding each moved 2 million PI, adding to the selling pressure. Centralized exchanges now hold growing reserves, creating a persistent overhang for PI's valuation.

Technical indicators support the bearish outlook. The sustained downward trend shows no signs of reversal, with price action breaching key support levels. Market participants appear to be anticipating continued distribution from institutional holders.