Pi Network (PI) Plummets 44% Amid Community Frustration

Coin WorldFriday, May 16, 2025 4:48 pm ET
2min read

Pi Network (PI) has experienced significant volatility, with a 44% decline over four days, falling below the $1 mark. This drop follows the announcement of the $100 million

Ventures fund, which was intended to boost ecosystem growth and real-world adoption. However, the community has expressed frustration over unresolved issues, such as the lack of 100 decentralized apps (DApps), timely KYC processes, and referral rewards. The recent price action suggests a loss of confidence and potential for further downside.

The Ichimoku Cloud chart for

Network (PI) indicates ongoing weakness, with price action below the Kijun-sen (red line) and close to the Tenkan-sen (blue line). The recent candles interact with the lower boundary of the Kumo Cloud, showing hesitation in regaining upward traction. The Chikou Span is positioned below the price candles, further reinforcing a bearish outlook. The leading span lines that form the Kumo ahead are flat and slightly downward-sloping, suggesting limited bullish support in the near term. For sentiment to shift, PI must break decisively above both the Kijun-sen and the cloud, confirming a potential trend reversal. Until then, the chart favors caution, with bears still holding the upper hand.

Pi Network’s BBTrend indicator has sharply declined to 10.63, after peaking near 48 just two days ago and dropping to 32 yesterday. This steep fall reflects a significant weakening in trend strength over a short period, suggesting that the recent bullish momentum is fading quickly. The rapid loss in trend intensity may indicate a transition toward consolidation or even a potential reversal if no new buying pressure emerges. At 10.63, Pi’s BBTrend suggests the asset may enter a neutral phase, where volatility contracts and price could range without clear direction unless a new breakout or breakdown develops.

Technically, PI’s indicators support the bearish outlook. Momentum signals like the DMI and CMF show declining strength and increased distribution, while the EMA lines are tightening and hinting at possible death crosses. Even though PI has been up 23% over the last seven days, the recent price action suggests a loss of confidence and potential for further downside. If the token fails to hold the key $0.80 support level, it could decline toward $0.57—but if momentum returns, a breakout above $0.94 could open the path to $1.30 or even $1.67.

In summary, Pi Network is facing significant challenges, with technical indicators and community sentiment turning increasingly bearish. The recent price action and technical analysis suggest that PI may remain vulnerable to further downside unless key resistance levels are reclaimed and buying pressure returns. The community's frustration with unresolved issues and the lack of real-world adoption may continue to weigh on the token's price in the near term.

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