Is Pi Network’s Price on a Comedic Downward Spiral? 😂📉

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Ah, dear reader! Gather ’round as we delve into the curious case of the Pi Network, where the price seems to be on a perilous journey, perhaps back to its all-time low, as if it were a wayward traveler lost in the fog of exchange inflows and token unlocks! 🥴

On this fine Tuesday, the Pi coin (PI) has plummeted to a mere $0.7570, a staggering 13% drop from its recent peak, and a jaw-dropping 54% from its glorious heights in May. One might wonder if the coin has taken a tumble down a steep hill, perhaps tripping over its own ambitions! 🤦‍♂️

But wait! The plot thickens! Our dear token now faces a multitude of risks that could send it spiraling even lower. On-chain data reveals that holders are hastily moving their tokens to centralized exchanges, as if fleeing a sinking ship. In the past 24 hours alone, net flows have exceeded 3.075 million Pi coins! Talk about a mass exodus! 🚪💨

To add to the drama, the net flow to OKX has surged to 1.474 million coins, while Bitget, MEXC, and Gate have seen inflows of 20,790, 460,834, and 1.1 million, respectively. It appears our investors are throwing in the towel, selling their precious holdings after a catastrophic crash of over 80% from the all-time high. Oh, the humanity! 😱

Moreover, the Pi Network continues to unlock millions of coins daily, as if they were confetti at a party gone wrong. Data suggests that over 263 million Pi coins will be unlocked in June, 233 million in July, and 132 million in August. In total, a staggering 1.519 million coins will be released in the next year, averaging 132 million a month. It’s a veritable flood of coins! 🎉

Yet, alas! This deluge comes at a time when demand for Pi Coin is waning. A significant increase in supply, coupled with soft demand, typically leads to further price pressure. It’s like trying to sell ice to an Eskimo in the middle of winter! ❄️

And if that weren’t enough, signs indicate that retail interest in Pi Network is fading faster than a magician’s rabbit. According to Santiment, Pi’s social dominance score has plummeted to 0.24% from 1.15% in April, while social volume across major platforms has dwindled to a mere 20 from a year-to-date high of 182. It seems our dear Pi is losing its charm! 🥳

Pi Network Price Technical Analysis

Now, let us turn our gaze to the eight-hour chart, which reveals that Pi Coin has been under pressure in recent weeks, descending from a high of $1.6677 on May 12 to the current $0.7500. It has dropped below the 25-period exponential moving average, while the Percentage Price Oscillator has dipped below the zero line. A true spectacle of decline! 📉

Furthermore, Pi Network’s price has formed a bearish flag pattern, a classic sign of impending doom. If this pattern is confirmed, the initial support to watch is $0.6300, aligned with the ascending trendline connecting recent swing lows since April 5. A break below that level could unleash further losses, with the next key support lurking at $0.40, Pi’s lowest point on April 5. What a rollercoaster ride! 🎢

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2025-05-27 16:48