Pi Network Price Faces Pressure as Unlocks and Weak Demand Weigh on Market

Pi Network price remained under pressure this week as weak market demand and growing token supply continued to limit bullish momentum. The PI coin traded within a narrow range between $0.12 and $0.13, staying close to recent lows and struggling to regain strength after its recent decline.

Over the past seven days, Pi Network price has dropped around 10%, highlighting ongoing selling pressure and reduced investor confidence. The broader cryptocurrency market has also remained weak, adding to the challenges facing PI. Bitcoin traded below $64,000, while Ethereum remained under $1,800. Other major cryptocurrencies, including XRP, Solana (SOL), Dogecoin (DOGE), and BNB, also recorded modest losses.

Market sentiment remains cautious, with the CoinMarketCap Crypto Fear and Greed Index sitting at 22, a level that reflects fear among traders. This negative sentiment has contributed to weak buying activity across the crypto sector, including Pi Network.

Another major concern for investors is the upcoming token unlock schedule. Data shows that approximately 127.5 million PI tokens are set to be unlocked over the next 30 days, averaging 4.25 million tokens daily. The largest single unlock is expected on June 25, when 7.45 million PI will enter circulation. Increased supply often creates additional selling pressure, especially during periods of low demand.

Exchange flow data also raises concerns. Centralized exchanges currently hold around 556.77 million PI tokens. During the past 24 hours, inflows totaled 319,303 PI, while outflows reached 579,018 PI, resulting in a net outflow of nearly 260,000 PI. Major exchanges including OKX, Gate.io, Bitget, MEXC, Kraken, and LBank recorded negative flows.

From a technical perspective, PI was recently trading near $0.1354. The Relative Strength Index (RSI) stood at 57, suggesting only moderate buying interest. Meanwhile, the MACD indicator remained slightly positive but lacked strong confirmation of a bullish breakout.

If selling pressure increases, the next key support level is around $0.1250. On the upside, immediate resistance remains near $0.14. A successful breakout above this level could improve short-term sentiment and potentially push the Pi Network price toward $0.1450 and eventually $0.15 if buyers regain control.