- Pi Coin trades at $0.55 after a 15% weekly loss, with rising volume and supply signaling continued investor sell-side pressure.
- Technical indicators show bearish momentum with negative OBV and A/D trends, while Pi trades near key support at $0.523.
- Uncertainty around Pi2Day and oversupply from mining weakens sentiment as users demand transparency and real utility growth.
Pi Coin continues to slide under increased selling pressure as investors brace for the anticipated Pi2Day event on June 28. The digital asset has lost 15% over the past week, trading at $0.55 at press time. This decline comes with a 9% spike in daily trading volume, which now exceeds $96 million.
This rise in volume, combined with falling price, indicates sustained sell-side dominance in the market. At the same time, the circulating supply of Pi tokens on exchanges has reached a new high of 346.7 million. This trend shows the growing investor uncertainty ahead of Pi2Day.
Bearish Market Signals Deepen
Technical indicators remain firmly in bearish levels. Bollinger Bands show prices compressed between $0.666 and $0.523, with the mid-band well above at $0.594. This setup confirms declining volatility and continued downside pressure.
The Accumulation/Distribution line has dropped to -671.806M, while On-Balance Volume stands at -880.797M, both pointing to persistent outflows. Meanwhile, the Stochastic RSI trades near oversold levels, with %K at 20.40 and %D at 23.91. Although this suggests possible short-term relief, there is no bullish crossover yet.
Pi Network Sentiment Slips Ahead of June 28
According to Mr. Spock on X, expectations remain grounded as the community seeks transparency rather than promises. Suggested focus points include verified KYC counts, app download data, real partnerships, and supply metrics.
Many users have voiced dissatisfaction over a lack of concrete updates from the Core Team. As such, rising deposits on exchanges appear to suggest a cautious stance rather than speculative optimism. While Pi is already live on major exchanges, the absence of compelling updates has weighed heavily on trader sentiment.
Mining Pressure and Supply Outpace Demand
A key driver of downward momentum is the oversupply from new token emissions. Mining activity is high, outpacing organic demand from applications or users. Since its brief spike above $1.80 in May, Pi Coin has entered a prolonged correction.
With no evident increase in utility or major adoption signals, most recent support has formed around $0.52. However, that support is fragile as technical levels fail to show accumulation. Unless supply growth slows, and strong catalysts emerge, price action may remain compressed in the near term.
On the upside, if Pi Coin breaks above $0.594, a rally toward $0.63–$0.66 may unfold with improving momentum and volume. However, a breakdown below $0.523 could send prices to the $0.49–$0.50 region, confirming stronger bearish continuation.
Overall, Pi Coin faces tightening market pressure from rising supply, weak accumulation, and lack of strong fundamentals. Whether the Pi2Day influences the price direction substantially, it remains to be seen.
