Pi Network Price Stagnates Despite Token Exodus From Exchanges

According to data from CoinGecko, the PI token recently plunged to $0.19 before a minor resurgence brought it back to approximately $0.20. This price action keeps the asset firmly in the red on both weekly and monthly timeframes, failing to stage a decisive breakout. The most notable on-chain development, however, is a substantial shift of tokens away from trading platforms. Over 1.2 million PI were moved from exchanges to self-custody methods within a single day, a trend that analysts often interpret as a reduction in readily available supply for sale.

Despite this exodus, a significant overhang remains on centralized platforms. Roughly 428 million PI tokens are still situated on exchanges, with more than half—the lion’s share—held on Gate.io. Bitget follows as the second-largest exchange holder with 147.6 million PI assets. This substantial balance means that while selling pressure may have eased slightly, the market is not facing a supply shock. Furthermore, the project’s token unlock schedule, while less aggressive than in prior months, continues to introduce new coins. Nearly 165 million PI are scheduled for release over the next 30 days, averaging about 5.5 million new tokens entering the ecosystem daily, according to data from piscan.io.

The Pi Network community presents a stark dichotomy of sentiment. On one side, die-hard fans maintain optimistic, often extremely bullish forecasts. For instance, X user Web3_Vibes has suggested that a bounce from the support level around $0.192 could propel the price northward. Other enthusiasts have floated predictions of PI reaching astonishing targets like $100, though such scenarios are widely viewed as preposterous and impossible given the token’s current market reality and lack of fundamental drivers.

Conversely, a vocal segment of the community is expressing deep frustration and disillusionment. X user pinetworkmembers characterized the project as having devolved from an “ambitious idea” into “years of tapping a button, unclear timelines, shifting goals, and endless ‘coming soon’ updates.” This sentiment echoes a broader critique that Pi Network lacks solid utility, open market confidence, and transparency about its ultimate direction. “A strong community deserves real progress, not perpetual waiting and recycled promises,” they added.

This bearish perspective is reinforced by commentators like X user Pi Update, who argues the token is “starting to look like a case study in hype outrunning execution.” The critique centers on the prolonged absence of basic, foundational improvements: clear tokenomics, real liquidity on open markets, and a compelling use case that extends beyond the project’s native ecosystem. The user concluded that vague promises from the Core Team and community enthusiasm alone cannot unlock the project’s potential, stating, “Until PI delivers independent price discovery and real-world utility, it feels less like a hidden gem and more like a project stuck between vision and viability.”

The current state of Pi Network highlights a critical juncture for many cryptocurrency projects. Technical metrics like exchange outflows and token unlock schedules provide short-term trading signals, but long-term viability hinges on execution and adoption. For PI, the recent token movement suggests some holders are opting for a long-term, custodial stance, potentially betting on future developments. However, this speculative patience is being tested by the absence of the very developments holders are waiting for.

The core challenge for the Pi Network Core Team is now unmistakably clear. To transition from a community-driven mining experiment to a sustainable crypto asset, the project must deliver on the fundamental demands its own user base is voicing: transparent roadmaps, defined tokenomics, and, most crucially, real-world utility that justifies its market valuation. Until these elements materialize, PI’s price is likely to remain susceptible to the push-and-pull between hopeful technical analysis and growing community impatience, with true price discovery awaiting tangible progress beyond the ecosystem’s borders.