🧨 PI Token Slips Below $0.50 — Is the Hype Finally Fading or Just Taking a Breather?
Pi Network’s native token, $PI, is under pressure as it struggles to hold above the $0.50 mark. At press time on Thursday, $PI is down 1% and continuing its five-day losing streak. The dip is being fueled by a mix of core team wallet outflows and increasing token supplies on centralized exchanges — all of which raise alarms over a looming supply shock.
Recent PiScan data shows over 7.8 million PI tokens flowing out of the Pi Foundation 2 wallet in just 24 hours. Meanwhile, three historic wallets — inactive for over four years — have suddenly become active again, moving over 4.5 million PI tokens combined. These large transactions hint at either strategic off-market dealings or a shift in internal distribution strategies, both of which are rattling investor confidence.
Adding to the pressure, CEX balances are rising fast. MEXC and Gate.io saw combined inflows of over 775,000 PI, while Pionex wallets recorded smaller but notable increases. The total of just five recent transactions amounted to nearly 5 million new tokens entering exchange reserves — suggesting a potential wave of retail or whale-driven sell-offs.
Technically, the price has already broken below the key $0.5524 support, last seen on April 29, and is now flirting with the $0.5223 weekly low. If that level fails, the next critical support sits at $0.5090, followed by the final safety net at $0.4000 — both of which were tested earlier this year.
To avoid deeper losses, Pi Network needs to print a bullish candle above $0.6000, which could reset the upward momentum and open doors for a retest of the monthly high at $0.6600. Until then, the pressure is mounting — and traders are watching closely.
