Pi Network has been a topic of renewed attention following its recent listing on MEXC and a series of sell-offs that have impacted its price and market sentiment.
As the Pi crypto community watches closely, the question remains: can Pi Coin recover from its recent setbacks and regain momentum?
The cryptocurrency exchange MEXC recently added Pi Coin (PI) trading pairs with the newly launched Trump-backed stablecoin USD1. This listing, effective from May 27, aims to enhance liquidity and legitimacy for Pi Network Coin by enabling users to trade against a stable, asset-backed currency.
MEXC has launched PI/USD1 and SOL/USD1 trading pairs, enabling direct trading of Pi Coin against the new Trump-backed stablecoin USD1, with zero fees until June 26. Source: MEXC_Listing via X
MEXC has even offered zero trading fees on PI/USD1 pairs through June 26 to encourage trading activity. The introduction of USD1, backed by US Treasuries and cash and connected to the Trump family business interests, adds a unique real-world asset tie to the Pi crypto value.
Despite the promising listing, Pi Network price has struggled to hold above the $0.70 mark, trading near $0.74 recently. Analysts caution that the coin faces strong resistance around the $1 level, a significant psychological barrier for investors.
The optimism following the MEXC listing is tempered by a notable sell-off among Pi Network holders. Data indicates that since early May, Pi Network has lost around 40% of its value from its monthly highs, fueled by a consistent exodus of investors.
The holder departure signals weakening confidence in Pi cryptocurrency’s near-term prospects. Technical indicators such as the Relative Strength Index (RSI) have dipped below the neutral 50 mark, suggesting increasing bearish momentum.
Pi Network (PI) price was holding above the $0.75 support at press time. Source: Brave New Coin
If Pi Network Coin falls below the critical support level near $0.71, a drop to $0.61 is projected. Such a decline would underline the current negative sentiment and heighten fears of further sell pressure.
However, should Pi crypto price manage to hold above $0.71, a rebound toward $0.87 could spark renewed interest and potentially reverse the downtrend.
Complicating the price outlook, Pi Network is preparing for a wave of token unlocks, which historically can increase circulating supply and prompt additional selling.
Recent on-chain data reveal millions of Pi tokens entering circulation, with the largest single-day unlock scheduled for May 28, involving 15 million tokens. Further unlocks loom in the coming months, including hundreds of millions of tokens planned for June, July, and August.
Many holders are transferring Pi coins to centralized exchanges, possibly signaling intentions to sell. This trend heightens the risk of supply outpacing demand, pressuring the Pi token price downward.
Pi Network’s volume increased modestly, indicating sustained but cautious market demand. The volume in the past 24 hours was up over 16%, to $145 million, as price action remains in a narrow range between $0.74 and $0.86.
Does the presence of a head and shoulders pattern indicate that the price will revisit the lower support line? Source: consciousMeerk65747 on TradingView
Technically, Pi Coin is trending within a tight Bollinger Band channel, with low volatility suggesting that a possible breakout is imminent but direction is uncertain. Momentum indicators such as the MACD have bearish inclinations, while stochastic RSI suggests short-term oversoldness.
Moving averages are still higher than the current prices, acting as resistance, and a last break above $0.85 can lead to $1.00 and $1.15 levels..
Despite short-term challenges, Pi Network is pursuing longer-term value creation through initiatives like the newly launched $100 million Pi Network Ventures fund. This fund supports startups in AI, gaming, fintech, and e-commerce, aiming to develop real-world applications for Pi cryptocurrency.
Pi Network could rebound toward the $3 milestone as the price holds the $0.75 support. Source: TradingView
The success of decentralized applications on the Pi mainnet and broader adoption could bolster Pi Coin worth over time, encouraging both new and existing investors to hold rather than sell.
Pi Network Coin price currently faces significant headwinds from investor sell-offs, looming token unlocks, and technical resistance. The price holding near $0.74 and key support at $0.71 will be crucial to watch in the coming days.
If Pi crypto value can stabilize and break above resistance levels, the altcoin may see a positive turnaround fueled by increased trading on MEXC and ongoing development efforts. Conversely, failure to hold support could lead to deeper losses and extended bearish momentum.
As the market digests these factors, traders and holders remain cautiously optimistic but vigilant, awaiting clearer signals on Pi Network’s next move in the competitive crypto landscape.
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