Pi Coin: Technical Indicators Point to a Bullish Reversal

Pi (PI) broke above its 7-day simple moving average (SMA) at $0.207, testing the Fibonacci 23.6% resistance at $0.251. A “falling broadening wedge” formation appeared on the daily chart — a technical pattern that often signals weakening bearish momentum and a potential reversal. The Relative Strength Index (RSI) also rebounded from 32 to 46, indicating renewed buying interest among traders.

Analysts suggest that this technical breakout could mark the start of a short-term uptrend. Short-term moving averages crossing above mid-term ones reinforce the strength of this momentum. However, the 200-day SMA at $0.48 remains a major resistance level. A daily close above $0.28 could open the path toward $0.36, while a drop below $0.25 might trigger profit-taking.

Exchange Withdrawals Create a Supply Shock

In October, more than 10 million PI tokens were withdrawn from centralized exchanges, easing sell-side pressure and reducing liquid supply. This move coincided with Pi Network’s KYC system upgrade, which verified 3.36 million users, allowing 2.69 million of them to migrate to the mainnet.

With fewer tokens circulating on exchanges, even moderate demand can have a larger impact on prices. Still, investors are watching closely, as 121 million PI tokens are set to unlock in the next 30 days — a development that could temporarily increase selling pressure.

Boost from Bitcoin’s Rally

Pi (PI) surged in tandem with Bitcoin’s 2.4% rise to $116,000, supported by optimism surrounding the U.S.–China trade outlook and easing inflation data. The overall crypto market capitalization grew by $100 billion, with altcoins like ZEC (+15%) and BCH (+6.4%) also posting strong gains.

Pi’s 0.87 correlation coefficient with Bitcoin means it tends to mirror BTC’s movements during bullish periods. However, a 1,089% increase in trading volume and a 5.48 turnover ratio indicate elevated volatility — a reminder that speculative trading may be playing a role in the rally.

What Is Pi Coin?

Pi Network is a Layer-1 blockchain project designed to make participation in the Web3 ecosystem accessible to everyone. Recognized as one of the most popular Layer-1 coins of 2025, Pi Coin (PI) serves as the network’s native cryptocurrency.

Unlike traditional mining methods, Pi mining can be done on a smartphone, offering a low-cost and energy-efficient alternative to Bitcoin. The project promotes an inclusive digital economy based on the principle of being “by the people, for the people.”

*This content does not constitute investment advice.

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What Does the Sharp Drop in Prices Mean?

In recent weeks, the price of Pi Coin tested an important psychological threshold of $ 1.66. However, the cryptocurrency, which could not hold on to this level, fell to the $ 0.70 band with a decrease of up to 57% in just a few days. What is even more striking is that this decrease caused a major meltdown not only in price but also in market value. The value fell from approximately $ 11 billion to $ 5 billion in a short time, indicating a loss of exactly $ 6 billion.

The Danger of Centralization

The most criticized aspect of the Pi Network is that its structure is largely centralized. Almost all of the project’s fixed supply of 100 billion units is held in wallets controlled by the Pi Foundation. There are currently around 7 billion tokens in circulation, while the vast remainder has yet to be released.

This raises several serious issues:

• Lack of Transparency: There is no publicly available information on who makes up the Pi Foundation or how it operates.
• Security Risk: There is a potential for this large amount of tokens to be misappropriated through an insider threat or a potential cyberattack.
• Lack of Independent Audits: There has been no independent audit of whether the Foundation’s assets actually exist.

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Why Are Exchanges Cautious?

This uncertainty environment is also causing major cryptocurrency exchanges to hold back. Platforms such as Binance and Coinbase have not yet listed Pi Coin. This hesitation continues even though three months have passed since the mainnet launch. The reasons are quite clear: Lack of transparency and potential market manipulation risk.

Another important factor is the billions of Pi tokens that will be released into the market in the coming periods. 1.48 billion tokens will be unlocked in the next 12 months alone. This could create a huge supply pressure on the market and cause prices to fall even further.

Technical Outlook for Pi Network

According to 8-hour chart analysis, Pi Coin has broken important support levels. In particular, falling below the $ 0.77 level indicates a reversal of the uptrend. The Relative Strength Index (RSI) also fell below the 50 level, signaling weakening momentum.

In this case, the support level around $0.60 is expected to be tested. If this area is also broken downwards, the next stop could be $0.40.

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Pi Network’s 6-Year Journey: From Inception to Today

Since its inception, Pi Network has adopted a community-driven growth strategy, allowing users to mine PI tokens via a mobile app. In 2020, the project moved to its testnet phase, providing developers with the opportunity to test their projects on the network—an essential step toward expanding the ecosystem.

By the end of 2023, the transition to the Open Network became one of the project’s most significant milestones. This phase enabled PI, the native token of Pi Network, to be listed on various cryptocurrency exchanges. However, the most anticipated Binance listing has yet to materialize. If Binance lists PI, a substantial price increase is expected due to increased liquidity and exposure.

Current Status of PI Token Price

Following its initial listings, PI token surged to $3, attracting investor interest. However, a period of silence from the project and heightened expectations caused a slight price retracement. Recent speculation about Binance potentially listing PI through a community vote has injected renewed excitement into the market. If Binance confirms the listing, PI could experience another major rally.

Final Stages of the Mainnet Migration

Pi Network requires users to complete their Know Your Customer (KYC) verification to access full network functionality. Users who pass KYC can transfer their mined tokens to the mainnet. However, the “Grace Period” phase is still ongoing. If users fail to complete their KYC within this timeframe, they risk losing access to PI tokens accumulated over the past six months.

Thus, completing the mainnet transition is crucial not only for increasing exchange listings but also for strengthening the token’s long-term value.

What’s Next for Pi Network?

With the transition to the Open Network, Pi Network is expected to gain more visibility on global cryptocurrency exchanges. If Binance lists PI, the token could attract a broader investor base and gain further market credibility.

One of the project’s key priorities is ensuring that more users complete the KYC process. The faster users complete verification, the faster Pi Network’s ecosystem will expand. Additionally, wider adoption of PI as a utility token will be essential for long-term success.

However, one of the biggest challenges ahead is securing support from major exchanges. Whether Binance will list PI remains one of the most closely watched developments among the Pi Network community and investors alike.

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Read V2 of the Pi Roadmap, which includes essential information on the future of Pi products. More updates to the Roadmap will be released in 2024. https://t.co/guIq1O73jB pic.twitter.com/2hRKH5L3xC

— Pi Network (@PiCoreTeam) December 30, 2023

How Does Pi Network Work?

It uses a consensus algorithm called Stellar Consensus Protocol (SCP). SCP allows users who contribute to the network to be rewarded.

Stellar claims that Consensus Protocol (SCP) is faster, more secure and more scalable than other consensus algorithms such as Proof-of-Work (PoW) and Proof-of-Stake (PoS).

You can access the Pi Network website here.

Community Formation

The Pi Network community consists of four roles:

1. Pioneers: Users conducting mining activities are referred to as “Pioneers.” However, Pi Network does not currently have a functional blockchain. Users attempt to prove they are not robots by clicking on a specific button in the application every 24 hours. However, unlike traditional cryptocurrency mining, actual mining activities have not taken place on the Pi Network yet. Pi Network developers are working to launch their own blockchain, but the exact date for the open mainnet launch is still unknown.
2. Contributors: Users who engage in mining for three consecutive days ascend to the Contributor status. Contributors represent a Security Circle, which consists of three to five Pioneers coming together. The Security Circle is a group of users on the Pi network who trust each other. Users can join multiple Security Circles, and Contributors earn more mining rewards compared to Pioneers.
3. Ambassadors: Users become Ambassadors when they invite new users through their referral codes. Ambassadors receive a 25% mining bonus for each user they invite. The more people invited, the higher the Ambassador’s earning rate. However, a user can only join the earning team of one Ambassador and cannot be added to multiple Security Circles.
4. Nodes: Pioneers can become validators (Nodes) on the network by running the Pi software on a desktop or personal computer. Validators are rewarded with additional benefits in the mining process. Currently, there are more than 10,000 testnet nodes, and developers state that when the Pi Network mainnet is launched, nodes will ensure the security of the Pi blockchain.

Pi Network Future

Pi Network Founder

It was first introduced by Dr. Nicolas Kokkalis in December 2018 and officially launched on March 14, 2019 (Pi Day). He is a Stanford doctoral student and the instructor of Stanford’s first decentralized applications class, CS359B, in 2018.

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