Pi Network (PI) has now been consolidating for over 40 days, with price action pinned between $0.57 and $0.61.
A recent tweet from Mood Jeff captures the mood bluntly:
This aligns with the chart data, which shows PI stuck in a sideways channel with low momentum, even as the protocol continues rolling out Mainnet ecosystem upgrades.
Despite increased wallet activation features and migration updates shared by the Pi Core Team, price has shown no significant reaction.
PI remains firmly below the 21-day EMA ($0.6370) and the 50-day SMA ($0.7405) on the daily chart. Until those levels are reclaimed, bulls are unlikely to regain control.
Pi Network Unlocks and Emissions Still Dampen Bullish Momentum
The fundamental weight on PI remains unchanged: ongoing unlocks continue to flood supply. Although the unlock rate has reportedly slowed from the previous 13 million PI per day to 3.8 million, it still far outweighs current demand.
With 100 billion tokens as max supply and only 7 billion circulating, the looming threat of further dilution is hard to ignore. Adding to the strain, metrics like RSI (42.59) and Stochastic Oscillator (31.32) reflect a market lacking conviction. The MACD histogram remains flat near the baseline, showing no strong directional push.
A massive volume of tokens still sits locked, but some holders are now resorting to selling entire wallets to bypass the system’s restrictions — a symptom of waning faith in the long-term vision.
In contrast to the flat price action, Pi Network’s official Twitter account has ramped up ecosystem news. Updates include expanded wallet activation for KYC’d users, renewed migration schedules, and more transparency around token supply and reward allocations.
According to the Pi Core Team, the new features aim to broaden Mainnet participation and onboard more users into Pi-based applications, commerce, and domains.
Pi network has emphasized fairness, gradual unlocking, and alignment between mining rewards and supply distribution. Yet the market remains indifferent — a likely consequence of Pi Network’s past delays, lack of top-tier listings, and repeated controversies.
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Disclaimer
This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
