Pi Network Coin has struggled for momentum since an underwhelming speech by its founder, Nicolas Kokkalis at the Consensus 2025 event
Pi Network (PI) coin price is struggling to gain momentum following an underwhelming speech by its founder, Nicolas Kokkalis at the Consensus 2025 event about a week ago. The crypto coin trades at $0.777 as of this writing, with its upside primarily supported by Bitcoin's (BTC/USD) resilience.
Moreover, it doesn't help that millions of PI coins are being minted and enter circulation every day, thereby diluting its value.
Many Pioneers (as Pi Network coin holders refer to themselves) have grown fatigued over the slow development of the network, with the latest fears currently built around its centralisation. Nearly half of its nodes are concentrated in Vietnam. The network has 200,000 nodes, which, in theory, makes it among the most decentralised networks. However, in practice, according to Pi Scan, there are only 319 active nodes, out of which 154 are in Vietnam.
In addition, the entire network reportedly has only two validator nodes, both of which are operated by the Pi Core Team, adding weight to the claims of centralised control. Also, large token movements, such as a 102.1 million token withdrawal from OKX exchange in three days in mid-May triggered talk of massive internal token trading involving the Pi Core Team.
On the other hand, Pi Network coin price broke below the middle Bollinger Band three days ago, adding credence to a bearish undercurrent. In addition, the action is below the Volume Weighted Moving Average (VWMA). Nonetheless, Bitcoin's continued stay on the upward trajectory could add support for a basket of other cryptocurrencies, including Pi coin. However, Pi Network's underlying weak fundamentals will likely see it stay range-bound in the near-term.
Pi Network Coin Price Prediction
Pi Network coin price pivot mark is at $0.771 and action above that level will favour the buyers to stay on the uptrend. The coin will likely encounter the first hurdle at $0.786. However, an extended control by the buyers will break above that level and potentially test $0.795.
Alternatively, going below $0.771 will shift the momentum to the downside, with the first support likely to be at $0.763. Meanwhile, breaking below that level will invalidate the upside narrative. Furthermore, such momentum could send the action lower to test $0.755.
