Pi Coin Slides 32% Pre-Two-Pi Day; $0.55 Resistance Critical
Pi Coin (PI) has fallen 32.4% over the past month after breaking its key $0.60 support, despite briefly reclaiming a $0.54 high following the launch of the $100 million Pi Network Ventures fund. Selling pressure surged again as no clear usage data or merchant uptake emerged. Traders now eye the June 28 Two-Pi Day event for potential catalysts. Meanwhile, PiScan reports 263 million PI tokens (≈$143 million) unlocking this month—the largest until September 2027—adding bearish weight. Technically, PI trades below major EMAs, with resistance at $0.55; a break above could target $0.57 (200-period EMA) and $0.60. A strong Two-Pi Day announcement might spur a rally, but until then low volume and elevated supply keep the outlook bearish.
Bearish
Large PI token unlocks and the breach of the $0.60 support have intensified selling pressure. The absence of clear usage metrics from Pi Network Ventures and limited volume confirmed the downtrend. Although the upcoming Two-Pi Day event could act as a short-term catalyst, the significant supply increase and unresolved fundamental drivers weigh on price. Traders should expect continued volatility with a bearish bias until sustained buying interest and clear post-event outcomes emerge.