Pi Network Coin in June: Pump or Dump?

As June kicks off, all eyes are on Pi Network’s volatile coin—will it defy gravity or crash back to earth?

Bull case: Mainnet momentum. If Pi’s long-promised open network finally delivers real utility, early miners could see green. But let’s be real—this isn’t exactly Bitcoin’s halving.

Bear trap: Another ’soon’ delay from the core team might send speculators scrambling. Remember when they said ’Q3 2024’? Yeah, neither do they.

Wildcard: If Elon tweets about Pi while sleep-deprived again, all bets are off. Just another day in crypto casino.

Pi Network price technical analysis

The four-hour chart shows that PI Network has extended its steep downtrend in recent days, falling from a high of $1.6690 in May to $0.6420.

The chart also reveals that the coin is trading below the 50-period moving average and has formed an inverse cup-and-handle pattern, a well-known bearish continuation signal. The ongoing consolidation reflects the handle formation. 

Given this setup, the token will likely continue to fall, with sellers eyeing initial support at $0.5547, its low from April 20. A drop below that level WOULD signal further downside, potentially to a record low of $0.40.