Pi (PI) Coin Price Plunges Over 45% From Its Recent Peak

Despite grand announcements from Pi Network's founder Dr. Nicholas Kokkalis, the Pi Coin price plunged over 45% from its recent peak, with the Pi crypto value now testing critical support levels around $0.70.

Despite grand announcements from Pi Network’s founder Dr. Nicholas Kokkalis at Consensus 2025, and hopes for a Pi listing on major exchanges like Binance, the Pi Coin price has plunged over 45% from its recent peak.

The crypto is now testing critical support levels around $0.70, with investor sentiment turning sharply bearish. Can Pi Network stabilize above this key threshold, or is a deeper correction inevitable?

Consensus 2025 Fails to Inspire Confidence

During his keynote, Dr. Kokkalis highlighted Pi Network’s vision for integrating AI with blockchain to expand into decentralized finance (DeFi), digital identity, and real-world applications in sectors like healthcare, e-commerce, and education. He also revealed that Pi Network is now fully decentralized and that the central coordinating node had been disabled.

However, these announcements fell flat. Community members were particularly disappointed by the lack of a concrete timeline for the long-awaited Pi mainnet launch — a delay that continues to erode trust.

“Without specific dates or roadmaps, this just feels like another round of vague promises,” one Pi community member noted on social media.

Pi Network Price Tumbles 45% Amid Selling Frenzy

Shortly after the event, Pi cryptocurrency saw its price fall sharply to $0.70, down from a recent high of $1.57 earlier in May.

According to CoinMarketCap data, the Pi token price is now hovering near key support zones at $0.70 and $0.59 — levels previously seen before the May rally.

Pi Network (PI) was trading at around $0.71, down 17.09% in the last 24 hours at press time. Source: Source: Brave New Coin

Trading volume also reflected the bearish sentiment, rising 40% to $561 million, largely driven by sell-offs. On-chain data indicated that over 1.2 million Pi Network Coin were deposited into exchanges like OKX, signaling increased liquidation activity.

Technical Indicators Signal Bearish Momentum

From a technical standpoint, Pi Coin now trades below the 20, 50, 100, and 200-day exponential moving averages (EMAs), all of which have flipped into resistance between $0.79 and $0.85. The MACD has turned bearish, and the Relative Strength Index (RSI) sits around 42 — pointing to a neutral-to-bearish outlook.

The On-Balance Volume (OBV) indicator also dropped over 12%, underscoring declining accumulation and increasing selling pressure. Analysts warn that a drop below the $0.59 support could open the door to a steeper fall toward the $0.45 zone — levels not seen since April.

Pi Network Ventures and Community Skepticism

In an attempt to boost developer interest, Pi Network recently launched a $100 million VC fund called Pi Network Ventures. The fund aims to support decentralized app (DApp) development and attract builders to the Pi Network ecosystem.

Dr. Altcoin accuses the Pi Network Core Team of price manipulation and insider profit-taking, warning of the dangers of hype-driven crypto projects. Source: VOICE LARK via X

Yet, some industry experts are not convinced. Analyst Dr. Altcoin voiced skepticism, noting that it may take up to five years for Pi cryptocurrency value to mature.

“Building an ecosystem isn’t about flashy announcements. It requires structure, funding, and time. We’re at least 2–5 years away from a fully developed platform,” he said.

Dr. Altcoin added that even if Pi Network Binance listings were to happen, any price spikes would likely be short-lived unless tied to actual utility and adoption.

Pi Wallet Distribution Raises Eyebrows

Further adding to the bearish sentiment is a sharp shift in wallet concentration. Data shows that the top 100 Pi wallets, which held over 98% of the supply as of early May, now hold less than 5%.

While some speculate this reflects better distribution, others suggest it may simply be internal wallet reshuffling — possibly to avoid scrutiny.

“This kind of redistribution without clear transparency can be seen as a red flag,” said one analyst. “It often suggests strategic movements by insiders rather than actual retail adoption.”

Can Pi Hold the $0.70 Support?

As the Pi Coin market recalibrates post-Consensus 2025, the immediate question is whether the Pi currency can hold its footing at the $0.70 mark. While there’s still strong interest from loyal supporters and developers, technical indicators and community sentiment suggest more pain could lie ahead.

Pi Network price is currently testing the critical support near $0.70. Source: Wolfxtrader on TradingView

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