PI Network (PI) Price Slowly Recovers from Its Big Drop Earlier in May

After a drop of about 50% between May 12 and May 17, the token was back up over 20% in the last four days and valued at $0.83 before

The price of PI, the native token of the popular cryptocurrency project Pi Network, has been slowly recovering after a big drop earlier in May.

After falling by about 50% between May 12 and May 17, the token was up over 20% in the last four days and valued at $0.83 before dropping slightly to $7904.

However, this price point is still 72% lower than the highest recorded level for the coin, which was $2.99 and reached in February 2025.

As the token continues to get listed on exchanges and more users join the ecosystem, investors are watching to see if the price can reach $1 again, given concerns about token unlocks and open issues with the project.

Testing Key Resistance at $0.90

According to the latest price analysis from KryptoNews, the short-term trend for Pi Network appears cautiously optimistic. The altcoin recently surpassed the $0.74 support level. This level was a previous local high from April, which has since turned into a key price floor.

The current price of $0.79 reflected an 8% drop in the last 24 hours and a 30% gain over the past month.

From the daily chart, it seems that technical indicators are giving both positive and negative signals. Currently, RSI is at 54, making it fall within a neutral level. The weekly moving averages for 10, 20, 30, and 50 days are increasing, so it seems that momentum may continue in this direction.

The key resistance for Pi Network price is at $0.90. This level is marked by a bearish order block on the 4-hour chart. If the price breaks through this resistance, it could move closer to the $1 threshold.

Unlocks Put Unneeded Selling Pressure On Price

On May 22, 2025, PI tokens were released, with an estimated total of 5.78 million tokens unlocked, with daily unlocks expected to continue for at least two months.

This addition to the circulating supply comes after the project announced support for new tokens on Binance Chain, enabling users to swap and trade PI tokens on decentralized exchanges.

Because of this, the total tokens in circulation increased. It has led to discussions within the community about the market's ability to process new tokens without causing a decline in price.

The project has stated that it plans to gradually introduce unlocked tokens into the ecosystem over time.

The project’s goal is to create a large-scale, user-friendly blockchain that can be used by billions of people worldwide.

By the following year, 1.47 billion PI tokens will be released for unlocking. These tokens will be issued by early backers, the project’s developers, and community members.

Experience from prior similar projects has shown that increases in the token supply, if not accompanied by ecosystem growth or more users, can cause the price to decrease.

Exchange Listings And Utility Are Key For Upside

Despite the rising trading volume and user interest, PI coin is still not listed on any major cryptocurrency exchanges. Although voters in the Pi Network preferred a Binance listing, the Pi token is still not available for trading on the exchange.

This lack of listing on a large exchange like Binance or OKX has limited the token’s liquidity.

Liquidity is still lower than expected because OKX depth is only around $100,000. This reduces the chance for the token to grow and makes its prices more easily affected by changes.

A further challenge is that there aren’t many valuable decentralized applications or DeFi projects built using the PI token. At the beginning of this month, Pi coin price surged to $1.35 after the news of a $100 million venture fund, but it soon dropped back down.

If the price of the token is going to maintain or continue its bullish move, it seems that its user utility will be very important.

As the project continues to develop and expand, it will be interesting to see how the price of the PI token changes and what new milestones the project reaches in the coming months.

Community Frustration Builds As Trust Erodes

The persistent delays in Pi Network's mainnet migration and the slow rollout of KYC verification have sparked frustration among users, especially in regions like China, where transfer limitations are more severely enforced, leading to a buildup of frustration.

These issues threaten user trust and limit the ability to transact freely with the token.

Moreover, analyst Dr Altcoin raised concerns in a recent post on X (formerly Twitter). Focusing on an allegedly linked wallet address for Pi Core Team activity, the analyst claimed to have observed the sale of at least 19 million PI tokens over a period of 20 to 30 days.

Highlighting the potential impact, Dr Altcoin stated that this was just one