Pi Network Price at Critical $0.62 Support: June Crash or Recovery?

Pi Network Price at Critical Juncture: Will $0.62 Support Hold or Collapse?

The Pi Network (PI) token, once hailed as a revolutionary mobile-mined cryptocurrency, now faces a pivotal moment as its price teeters near a crucial support level of $0.62. After a staggering 78% drop from its February 2025 peak of $3, the token’s future hinges on whether it can withstand mounting bearish pressure or succumb to a deeper correction toward $0.40.

The Rise and Fall of Pi Network

Launched in 2019, Pi Network promised to democratize cryptocurrency mining by allowing users to earn tokens through a smartphone app. Its user base ballooned to over 35 million, but the project’s long-awaited exchange debut in February 2025 proved disastrous. Initially listed at $3, the token quickly plummeted to $0.60, erasing billions in market value.

The decline accelerated due to several factors:

• Lack of Mainnet Progress: Despite its exchange listing, Pi Network’s full mainnet remains incomplete, raising doubts about its functionality and decentralization.

• Token Unlocks: June 2025 alone will see 274 million PI tokens unlocked, increasing circulating supply and potential sell pressure.

• Centralization Concerns: Over 90 billion PI tokens are held by the Pi Foundation in 2,000+ wallets, deterring major exchanges like Binance and Coinbase from listing the asset.

A Make-or-Break Moment for Pi

As of June 2, 2025, PI trades at $0.64, down 1% in 24 hours, with its price trapped in a descending wedge pattern. Analysts warn that a break below $0.62 could trigger a 40% plunge to $0.40 by August.

Dr. Altcoin, a prominent crypto analyst, highlights transparency as the core issue: "No investor wants to put money into a project whose founders refuse to be transparent". The Pi Core Team’s silence on tokenomics and mainnet delays has fueled skepticism, with social media sentiment turning increasingly negative.

Short-Term Outlook: Bearish Dominance

Technical indicators paint a grim picture:

• MACD and RSI: Both signal bearish momentum, with the RSI hovering near oversold levels.

• Key Resistance: PI must reclaim $0.72 to invalidate the downtrend, but all major moving averages (10, 20, 50, and 100-day EMAs) act as overhead resistance.

• Exchange Inflows: Rising PI deposits on exchanges suggest holders are preparing to sell, exacerbating downside risks.

However, some analysts see a glimmer of hope. CoinDCX predicts a potential Q4 rebound, with PI possibly reaching $2.75–$2.80 by December if ecosystem development accelerates.

The Road Ahead: Utility or Bust

Pi Network’s $100 million Ventures Fund aims to spur adoption in fintech and gaming, but critics argue the project lacks real-world utility. Without smart contracts, open-source code, or major exchange support, PI risks becoming another "ghost chain" with speculative value only.

Final Thoughts

Will Pi Network stabilize above $0.62, or is a crash to $0.40 inevitable? The answer hinges on the Core Team’s next moves—greater transparency, faster mainnet progress, and exchange partnerships could revive confidence. For now, traders should brace for volatility.

Share your thoughts on our X: Can Pi Network recover, or is this the beginning of its end?

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.

Sources:

• Brave New Coin: "Pi Network Price Prediction: June Crash or Recovery?"

• CoinCentral: "Pi Network (PI) Price Critical Support Test After 78% Drop From Launch"

• Pintu: "Pi Network Price Slips 1% to $0.6426"

• BeInCrypto: "Pi Network (PI) Token Hits Weekly Low"

• CoinCentral: "Pi Network Price Prediction: Insiders Dump Millions of PI Coin"