OUSG (ousg) 
Pi Network’s Price Faces Bearish Risks Amid Rising Exchange Inflows and Token Unlocks
The Pi Network token price is under significant pressure, with current trends indicating a potential bearish breakout. On Tuesday, the token’s value dropped to $0.7570, representing a 13% decrease from its peak last week and a staggering 54% decline from its highest point in May. Multiple risks are looming that could drive the price even lower in the coming weeks.
Exchange Inflows Signal Investor Sell-Off
Recent on-chain data reveals that Pi Network holders are increasingly moving their tokens to centralized exchanges, a trend that often precedes heightened selling pressure. Over the past 24 hours, net flows to exchanges exceeded 3.075 million Pi coins. This includes:
- 1.474 million Pi coins flowing into OKX
- 20,790 coins to Bitget
- 460,834 coins to MEXC
- 1.1 million coins to Gate
These inflows suggest that many investors are offloading their holdings following a sharp 80% decline from Pi Coin’s all-time high. This sentiment indicates growing capitulation among holders, further pressuring the token’s price.
Impact of Token Unlocks on Supply
The Pi Network continues to unlock millions of coins, a factor that is exacerbating its oversupply challenges. Data shows that:
- 263 million Pi coins will be unlocked in June
- 233 million coins in July
- 132 million coins in August
- 1.519 billion coins are set to be unlocked over the next 12 months, averaging 132 million per month
This surge in circulating supply coincides with weakening demand, a combination that often results in downward price pressure. Without a corresponding increase in buying interest, the market is likely to experience further declines in Pi Coin’s value.
Declining Social Interest in Pi Network
Another sign of waning interest in the Pi Network is the decline in its social metrics. According to recent data, Pi’s social dominance score has dropped from 1.15% in April to just 0.24%. Similarly, its social volume—a measure of discussions across major platforms—has fallen to 20, significantly lower than its year-to-date high of 182. These indicators reflect reduced retail engagement, which could further dampen investor sentiment.
Technical Analysis: Bearish Patterns Emerge
From a technical perspective, Pi Coin’s price action remains bearish. The eight-hour chart shows that the token has fallen from a high of $1.6677 on May 12 to its current level of $0.7500. Notably, it has dropped below the 25-period exponential moving average, while the Percentage Price Oscillator has moved below the zero line, signaling a bearish momentum shift.
Additionally, Pi Coin has formed a bearish flag pattern, often indicative of further downside potential. If this pattern is confirmed, the initial support level to monitor is $0.6300, which aligns with the ascending trendline connecting recent swing lows since April 5. A break below this level could pave the way for additional losses, with the next critical support level at $0.40, marking Pi Coin’s lowest point on April 5.
Investors are advised to closely watch these key technical levels and on-chain metrics as they assess the token’s future trajectory. The combination of rising exchange inflows, increased token unlocks, and declining social interest paints a challenging picture for the Pi Network in the near term.
