Pi Network Faces User Confidence Decline Amid Token Price Drop 0.50%

Coin WorldMonday, Jun 16, 2025 10:32 am ET
2min read

Pi Network, a cryptocurrency project that gained significant traction due to its smartphone mining capabilities, is currently facing a period of instability. The project, which had initially mobilized a vast community, is now experiencing a decline in user confidence. This erosion of trust is fueled by opaque decisions and communication that has been deemed disappointing by many within the community.

The

token, which had shown some signs of recovery, has struggled to maintain its momentum. On Monday, June 16, the PI token moved against the trend of a generally bullish crypto market, losing nearly 0.50% within 24 hours. This decline comes despite a technical rebound of 3.52% recorded on Saturday. The token failed to surpass the 50-period exponential moving average at $0.61, a key threshold to confirm a recovery. The Relative Strength Index (RSI) stagnates at 49, reflecting hesitant momentum, while the Moving Average Convergence Divergence (MACD) approaches a potential bearish crossover. If the support at $0.57 breaks, the scenario of a return toward $0.50 strengthens.

On the token flow side, the signals are even more critical. PiScan data shows a clear increase in PI reserves on several centralized exchanges (CEX), indicating latent selling pressure. Within 24 hours, Gate.io received 1,336,196 PI, over half of the total incoming flows. OKX shows a net inflow of 904,384 PI, while

recorded an additional 186,316 PI. The total net flows across five CEXs reached 2,458,127 PI. Meanwhile, the Pi Foundation’s #2 wallet transferred 14,820 tokens, suggesting a lightening movement. These consolidated on-chain data reinforce the hypothesis of potential excess supply on the secondary market, at a time when technical indicators are turning red. If these tokens were to be released, additional downward pressure on the PI price would be difficult to avoid.

The recent announcement about the evolution of the .

application, though presented as an important milestone by the Pi Core Team, did not have the expected effect on the community. Many community members have expressed their disappointment following major bugs, highlighting the lack of significant progress beyond the domain initiative. The June 13 update, which introduces a statistics page and autonomous management of the tool through a separate app, has far from rallied enthusiasm. On X (formerly Twitter), Pi Network News Global even estimated that “if the Pi2Day announcement is limited to .pi domains, it will be a very bad signal.”

The frustration is all the stronger given the high expectations around Pi2Day. Yet the signals sent by the project in recent weeks seem contradictory. The total volume engaged in .pi auctions since their launch has only reached 3 million PI, barely $1.8 million, a trivial sum compared to daily trading volumes. Added to this are persistent structural gaps: only six companies have validated their KYB, no new major listing has strengthened token liquidity, and the Pi Ventures investment fund ($100M) remains inactive. These elements fuel the impression of strategic fatigue, despite these announcements.

As the unlocking of 248 million PI planned for July approaches—the largest until October 2027—concerns crystallize. To avoid a gradual disengagement of its community, the Pi Core Team will need to quickly propose concrete advances, such as the integration of new apps, speeding up KYC, opening up to smart contracts, or strategic partnerships. Otherwise, the project could shift from stagnation to marginalization.