The mood around Pi Network has turned increasingly cautious as signs point toward a potentially steep correction in the days ahead. Despite Bitcoin’s return to the $110,000 mark, Pi Coin hasn’t followed suit—in fact, it’s headed in the opposite direction. The token, which once flirted with highs above $1.66 earlier this month, is now battling bearish momentum with its price dropping over 53% to around $0.77.
The latest red flag? A wave of tokens flooding into centralized exchanges, signaling mounting sell pressure from investors eager to offload their holdings.
2M Pi Tokens Shifted to Exchanges—What’s the Message?
According to real-time blockchain tracking from PiScan, the last 24 hours have seen a net inflow of over 2 million Pi tokens into major trading platforms. Notably, OKX received 4.1 million Pi, while only 2.2 million were withdrawn, leaving a net flow of approximately 1.88 million. Bitget also saw a significant inflow of over 712,000 tokens.
Pionex had a smaller contribution, while MEXC and Gate.io were the only major platforms to report more outflows than inflows—indicating that some investors may still be holding out or buying dips. Still, the collective trend is clear: traders are preparing to sell, and that has bearish implications for Pi’s short-term price action.
Exchange inflows are widely regarded as a leading indicator of selling intent. When large numbers of tokens are moved off personal wallets and into exchanges, it’s usually to facilitate trades—typically sell orders. So while the broader market might be stabilizing, Pi’s internal dynamics are flashing caution.
Technicals Confirm the Bearish Case
Zooming into the technical chart, Pi Coin appears to be trapped in a bearish flag—a pattern that often signals continued downside after a sharp drop. After its surge to a two-month high on May 12, the token has been drifting lower in a narrow upward channel, a textbook setup for a bear flag. That channel has now broken down, suggesting the next leg lower may be underway.
If the bears continue to take control, Pi could test support levels near $0.6584, marking its lowest point from May 17. And should that break, traders might set their sights on $0.5545—a drop of nearly 30% from current levels.
The coin also trades below its 50-period Exponential Moving Average on the 8-hour chart, further strengthening the argument that downward momentum is building.
Token Unlocks Add to Selling Pressure
Beyond exchange flows and technicals, tokenomics may also be working against Pi Coin holders. The network is in the midst of a massive token unlock phase, with millions of new tokens hitting the market daily.
Today alone, nearly 10 million coins are set to be released into circulation. Over the next few days, that number balloons further: 12 million on Tuesday, 15.2 million on Wednesday, and another 13.2 million on Thursday. In total, more than 72 million tokens—worth over $50 million at current prices—will be unlocked this week alone.
Looking further ahead, the next 30 days will see over 280 million Pi tokens released into circulation. With 11.1 billion coins already in supply and a cap set at 100 billion, this influx poses a major threat to price stability—especially if buying interest doesn’t keep pace.
Final Thoughts
The Pi Network community may need to brace for more turbulence ahead. With a bearish technical setup, a flood of tokens hitting exchanges, and ongoing token unlocks, the path of least resistance for Pi Coin appears to be downward—for now. Unless buying sentiment rebounds or a new wave of adoption emerges, the pressure could mount further.
While long-term believers may see this as a temporary hurdle, short-term traders will want to tread carefully in the days ahead.
