Despite a steep decline from its all-time highs, Pi Network is pressing ahead with an ambitious ecosystem roadmap, with hopes pinned on mainnet adoption, exchange listings, and real-world utility.
The native token of Pi Network, PI, has resumed its downward slide in early May, falling below the crucial $0.60 support and signaling continued bearish pressure. Trading at $0.59 as of press time, PI has dropped nearly 10% in the past week and is now down over 23% from last month’s high. From its February peak of $2.99, the token has lost nearly 80% of its value.
Token Unlock Concerns Weigh on Sentiment
A major concern among investors has been the rising supply of tokens entering the market. In April alone, over 21.4 million PI tokens worth approximately $12.3 million were unlocked. While this number may seem modest, it’s only a precursor to more significant unlocks expected in the months ahead. Forecasts suggest that an average of 131 million PI tokens per month could be unlocked over the next year, fueling fears of continued dilution and sustained sell pressure.
Despite Price Weakness, Ecosystem Momentum Grows
While PI’s technical indicators point to bearish sentiment, Pi Network’s development roadmap offers reasons for long-term optimism. The Open Mainnet is now live, and developer activity is increasing steadily.
Key components of the growing ecosystem include:
- 1Pi Mall: A marketplace for Pi-based e-commerce transactions.
- Workforce Pool: A freelancing platform facilitating gigs paid in PI.
- Map of Pi: An app that connects users to physical businesses accepting PI for real-world transactions.
- Piepump.fun & Fruity Pie: New dApps for entertainment and meme token creation, inspired by Solana’s ecosystem.
The network’s Pi Ad Network also debuted recently, enabling advertisers to purchase ad space using PI and allowing app developers to earn PI through in-app ad engagement—creating a closed-loop economy.
Meanwhile, .pi domains were introduced as blockchain-based identity layers within the Pi Browser, with domain auctions supporting ecosystem funding and user customization.
PiFest 2025: Driving Real-World Use
PiFest 2025, held from March 14–21, became a major milestone in driving offline adoption. The event featured over 58,000 participating sellers across 160+ countries and 1.8 million+ users transacting in PI. The “Map of Pi” app played a central role in helping users discover Pi-accepting merchants.
Binance Listing Still in Play
Although Pi is listed on OKX, Bitget, MEXC, and others, a Binance listing remains a highly anticipated catalyst. A recent Binance community poll saw 86% of nearly 295,000 users voting in favor of listing PI on the world’s largest crypto exchange. Such a move could vastly improve liquidity and visibility for the token.
If Binance acts, other major exchanges like Coinbase, Upbit, Crypto.com, and Kraken could follow suit, helping to legitimize PI’s market position.
Technical Analysis: Can Bulls Regain Control?
Technically, the outlook for PI remains weak:
- Price sits below both the 20-day and 50-day EMAs.
- The RSI is at 41, leaning toward oversold conditions.
- The MACD is showing signs of an impending bearish crossover.
Key levels to watch include:
- Resistance: $0.645 (a breakout here could signal a move to $0.81–$1).
- Support: $0.57 (a breakdown could lead to a decline toward $0.40).
Social Sentiment and Community Will Matter
As a community-powered project, Pi Network’s strength lies in its grassroots movement. However, data from Santiment suggests current sentiment remains bearish, with social engagement in decline. This highlights the importance of positive developments be it in the form of partnerships, new listings, or adoption to reignite investor interest.
Pi Network is at a pivotal crossroads. While short-term price action remains under pressure, the project’s expanding ecosystem, real-world adoption, and potential exchange listings could lay the foundation for a future rebound. For now, investors will be watching closely to see if utility and growth can outpace dilution concerns in 2025.
