PI token is once again facing a critical moment. While Pi Network continues expanding its ecosystem and introducing new Launchpad initiatives, the market is also dealing with a massive wave of token unlocks that could significantly impact price action in the coming weeks.
Analysts warn that the combination of increasing supply and relatively weak demand remains the biggest challenge for PI at the moment.
PI Price Is Testing a Crucial Support Zone
On June 12, PI was trading near $0.127, close to a price area that has successfully prevented further declines on multiple occasions in recent weeks.
However, the overall technical picture remains bearish.
All major exponential moving averages continue to sit above the current price, suggesting that sellers still control the broader trend. At the same time, a descending wedge pattern has been forming since May, signaling that a decisive move may be approaching.
According to several technical scenarios, a breakdown below current support could open the door to a decline toward the $0.10 region.
MACD Has Yet to Confirm a Reversal
The MACD indicator is currently hovering near the zero line while gradually converging with its signal line.
Although a bullish crossover could indicate improving market sentiment, such a signal has not yet materialized. Until MACD generates a clear buy signal, most analysts continue to view the trend as negative.
The nearest resistance levels are located around $0.129 and $0.136, while the key support remains at $0.120.
Pi Launchpad Introduces the New SLICE Project
Beyond price action, the community is closely watching the continued development of the Pi ecosystem.
Pi Network has launched its second test token, called SLICE, which is connected to the Slice of Pi application. The platform combines gaming elements, advertising, and payments powered by PI.
The new initiative follows the earlier IRRA experiment, which attracted nearly half a million participants. That test revealed several usability issues related to staking and commitment confirmation processes.
SLICE addresses those concerns by simplifying participation into a single commitment process. The locking mechanism has also been redesigned to prevent larger wallets from gaining disproportionate advantages over smaller participants.
The testing phase is scheduled to remain active until Pi2Day on June 28.
Real-World Data Could Be a Major Advantage
Unlike the previous test token, SLICE is connected to an actual working application rather than serving purely as an experimental asset.
This allows Pi Network to gather real user engagement data, activity metrics, and usage statistics that can help shape the future Mainnet version of the Launchpad.
For the project team, this represents an important step toward creating meaningful utility within the ecosystem.
119 Million PI Tokens Set to Enter Circulation
The largest concern for investors remains the ongoing token unlock schedule.
According to data from PiScan, approximately 119 million PI tokens are expected to be unlocked by the end of June. On June 11 alone, an additional 16 million tokens entered circulation.
The challenge is that current demand appears unable to keep pace with this growing supply. During the same period, only around 259,000 PI left exchanges.
This imbalance suggests that token supply is expanding much faster than buyer demand, creating significant downward pressure on the market.
Protocol 25 Will Be Closely Watched
Another major event on investors' radar is the scheduled launch of Protocol 25 on June 18.
If the upgrade proceeds smoothly and the network transition is successful, it could boost community confidence and attract additional buyers.
Conversely, technical issues or delays among network nodes could further weaken sentiment at a time when the market is already facing increased supply pressure.
Where Could PI Go Next?
The bullish scenario assumes PI successfully holds support at $0.120 and begins moving toward resistance near $0.136. A successful Protocol 25 rollout could potentially support a rally toward the $0.150 area.
However, downside risks remain significant. If PI closes below $0.120 while token unlocks continue to outpace demand, the market could open a path toward the psychologically important $0.10 level.
The coming weeks may therefore represent one of the most important periods of the year for Pi Network, as both the project’s technical development and the market’s ability to absorb a rapidly increasing token supply are put to the test.
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Disclaimer:
The information and opinions presented in this article are for informational and educational purposes only and should not be considered financial or investment advice. Nothing on this page constitutes a recommendation to buy or sell any assets. Cryptocurrency investments are inherently risky and may result in financial loss. Always do your own research before making any investment decisions.