Key Takeaways
Pi Coin drops over 22% monthly despite bullish momentum in the broader crypto market.
Over 300 million PI tokens set to unlock in July, raising oversupply and sell-off concerns.
Analysts defend Pi Network’s compliance, but transparency and utility remain under scrutiny.
Pi Coin Diverges Sharply from Market Trend
While Bitcoin and Ethereum continue to hit new highs, Pi Coin is charting a troubling course. Currently trading below $0.44, PI has shed more than 22% in the past month and 8% this week, despite a 14% rise in trading volume. The token’s decline stands in stark contrast to the broader crypto rally, sparking renewed skepticism about Pi Network’s legitimacy.
The Pi Core Team is facing mounting criticism over delayed KYC processes, vague roadmap updates, and a lack of transparency. Adding to the pressure, over 304 million PI tokens, worth $162 million, are scheduled to unlock this month alone. Analysts warn this influx could flood the market with sell-side liquidity, potentially pushing the price below its all-time low of $0.40.
Scam Rumors Intensify, But Analysts Push Back
Social media buzz around Pi Network being a scam has intensified, especially following insider token movement allegations and a lack of utility. However, analyst Dr Altcoin has stepped in to defend the project, citing its rigorous KYC/KYB protocols and a $100M venture fund aimed at ecosystem growth. Major exchanges like OKX, MEXC, and BITGET have passed KYB checks, signaling institutional confidence.
Despite these defenses, critics argue that Pi Coin’s lack of real-world use cases and unclear tokenomics continue to fuel doubt. The absence of deflationary mechanisms, such as token burns, and insider wallet activity have only added to the controversy.
Technical indicators remain bearish, with RSI hovering near oversold levels and MACD showing no bullish crossover. Some analysts believe a breakout above $1 could flip sentiment, but that scenario hinges on improved transparency and utility delivery.
