Pi Coin Plummets 61.08% Monthly, Nears All-Time Low

The Pi Network, a prominent cryptocurrency project, is currently navigating a difficult period as its native token, Pi Coin, has experienced a significant decline in value. Over the past week, the Pi Coin has recorded an 18.01% loss, with monthly statistics showing a more dramatic 61.08% decrease. This downward trend has brought the coin perilously close to its all-time low, which was recorded at $0.6157 on February 20, 2025. The current value of the Pi Coin stands at $0.6655, a mere 12.0% above its all-time low.

The Pi Coin's journey has been tumultuous. It reached its all-time high of $2.99 just six days after its mainnet launch, but has since plummeted by 76.9% from this peak. The recent decline has also resulted in the Pi Coin falling out of the top 25 cryptocurrencies by market capitalization, with its market cap shrinking from nearly $20 billion to $4.51 billion.

Several factors have contributed to this significant loss of value. External economic conditions, such as increased inflation and general economic turmoil, have played a role. Additionally, the scheduled release of 1.5 billion more Pi tokens this year has added to the bearish sentiment surrounding the coin. These factors, combined with the overall downtrend in the crypto market, have created a challenging environment for the Pi Network.

Technical analysis of the Pi Coin's price movement does not offer much hope for a reversal in the near future. The MACD indicator is bearish, with the signal line above the MACD, indicating a weak momentum crossover. The RSI stands at 32.03, suggesting a near oversold condition. While the Pi Coin is currently trading above the crucial $0.65 support level, a break below this could send the price down to the next support level at $0.61. For the Pi Coin to recover, it would need to retake the $0.7 resistance level and then aim for the $0.8 price point. However, the chances of a reversal are slim, with a significant recovery only possible if the coin goes above $0.90.

The situation for the Pi Network is further complicated by the upcoming unlocking of 233 million Pi tokens in July. This, combined with the lack of listing on major exchanges, puts the Pi Network in a precarious position. The increased selling pressure and lack of exchange support could push the Pi Coin to new all-time lows, making July a potentially disastrous month for the token.