Pi Network (PI) Faces Bearish Outlook Amid 335 Million Token Unlock, Shrinking User Base, and Listing Uncertainty

Pi Network’s PI token is under significant bearish pressure, driven by multiple converging factors. Over the next 30 days, more than 335 million PI tokens are set to be unlocked, potentially flooding the market and intensifying selling activity. On-chain data reveals a shrinking holder base with consistent net outflows, daily losses surpassing $45,000, and PI’s market cap steadily declining. Although the launch of a new blockchain-based game, Fruity Pi, has spurred minor user engagement, it has not reversed the negative trend. The once-publicized 47 million user milestone has been quietly removed from official materials, raising doubts about genuine user participation. Adding to the uncertainty, almost 340 million PI tokens are now held on centralized exchanges, with significant amounts on Bitget, suggesting traders may be preparing to sell. Despite community anticipation and a favorable user vote, major listings such as on Binance remain unconfirmed, undermining hopes for mainstream adoption. The upcoming Pi2Day on June 28, which often accompanies major announcements, is overshadowed by the core team’s prolonged silence on mainnet deployment and exchange listing updates. Technical indicators signal a strong bearish trend, with immediate resistance at $0.66 and support at $0.60. If the large token unlock converges with waning demand and a sluggish market, further downside risk and increased shorting are likely. Unless the Pi Network team delivers substantial progress soon, PI’s price is expected to remain vulnerable. Crypto traders are advised to monitor exchange flows, official updates, and technical levels closely for signs of a trend reversal.