According to the latest data from Gate market, as of July 23, the price of Pi Network is temporarily reported at 0.4724 USD, down 1.57% in the last 24 hours. This price is still close to the historical low, with only a 10% gap from the psychological barrier of 0.40 USD. The price fluctuation range has significantly narrowed, and the PI coin has oscillated between 0.4424 and 0.4536 USD in the past 24 hours. This narrow fluctuation reflects that the market is in a delicate balance. Technical indicators show that the key resistance level is at 0.45 USD and the support level is at 0.43 USD. If it breaks below the support, it may test the historical low of 0.40 USD, while breaking the resistance could challenge the 0.50 USD mark.
There are three major contradictory factors behind the fluctuations:
Negative correlation dilemma: The correlation between PI and Bitcoin has dropped to -0.50, diverging from the overall trend of the crypto market.
Unlocking the Flood: 1.85 million PI tokens were unlocked in the past month, with a single-day peak exceeding 10 million coins.
Miner selling pressure: Tokens mined for free are sold immediately after being unlocked, creating a sustained downward pressure.
These factors work together, causing the PI price to fall into a deadlock of "weak rise and solid decline."
Market Predicament: Unlocking Trend and Trust Crisis
The core challenges faced by the Pi Network far exceed the price fluctuations themselves. A large number of early miners are trapped in account lockout situations. Despite having completed KYC verification, many users have been waiting for months or even two years without gaining trading access.
Miner Hoang Nguyen from Ho Chi Minh City, Vietnam has 5,400 PI and still cannot trade after waiting for 9 months. He attempted to sell his account on a forum but fell prey to scammers.
"Five months ago, when each coin was $3, I could have become rich, but now I can’t even sell my account," he said helplessly.
PiScan data shows that 95 million PI tokens will be unlocked in the next eight days. This continuous supply shock makes it difficult for the price to recover.
At the same time, the delayed updates from the project team have intensified market concerns. Since founder Nicolas Kokkalis appeared at the Consensus conference on May 16, 2025, the team has rarely announced significant progress.
The mainstream exchange listing and mainnet improvements that the community expects have yet to see official confirmation. This communication vacuum has led to a decline in investor enthusiasm, with the market being dominated by short-term traders.
Technical Signals: Key Indicators of Bull and Bear Struggles
From a technical analysis perspective, Pi Network is at a critical turning point:
The Squeeze Momentum Indicator shows black dots, suggesting that bullish momentum is accumulating.
The MACD trend line (0.0307) is below the signal line (0.0481), indicating a weakening bullish momentum.
The 14-day RSI index hovers around 54.73, in the neutral zone, reflecting the market’s hesitation.
The 4-hour chart shows that the 0.90 dollar resistance level continues to face bearish pressure. During the rebound attempt on July 22, the price briefly touched 0.51 dollars before quickly retreating to around 0.49 dollars.
The Elder-Ray index has consistently recorded negative values since July 12, indicating that selling pressure is dominant. If this trend continues, the price may drop below the support level of 0.43 dollars.
It is worth noting that the current market open interest accounts for only 0.5% of the circulating supply, indicating that the market is still dominated by speculative funds, lacking support from long-term investors.
2025 Price Prediction: Huge Discrepancies in Market Expectations
About PI coin in 2025 Price trend There are significant differences among major analysis institutions:
Conservative prediction: $0.4–1.5 range, based on early user unlock selling pressure and lack of real application scenarios.
Mainstream institutions predict: $3.78, based on the liquidity released from a user base of 45 million and the expectations of exchange listings.
Optimistic model: $1.91–$4.34 volatility range, average annual price $2.61, potential investment return rate 373.66%
Extreme prediction: $620, requires meeting stringent conditions such as the maturity of the DeFi ecosystem, institutional capital entry, and regulatory compliance.
This divergence reflects the fundamental contradiction faced by Pi Network: the gap between its large user base (over 60 million) and the yet-to-be完善 ecosystem.
The specific quarterly outlook also presents different trajectories:
Q3: Expected to fluctuate in the range of 0.58–1.55 USD
Beginning of Q4: May break through 2 dollars, challenging the 3.19 dollars high point by the end of October.
Year-end target: Some analysts see it reaching 4.65 dollars, but it needs ecological applications to support it.
Long-term predictions vary significantly. Cryptopolitan predicts that the PI price will be in the range of 5.86–6.51 dollars in 2031, while another model claims it could reach 402.25 dollars by 2030. These long-term forecasts should be viewed with caution.
Future Catalyst: The Key Variable for Breaking the Deadlock
The price of Pi Network breaking through the current deadlock depends on the development of four key factors:
Mainnet improvement and KYC efficiency: Accelerating token migration and account verification is the foundation for alleviating user dissatisfaction.
Exchange listing: Especially listing on top platforms like Binance will greatly enhance liquidity and market confidence.
Ecosystem Application Development: Currently, there are only about 80 mainnet-ready applications, still a gap from the target of 100.
Regulatory compliance progress: The expansion of fiat channels must comply with local regulations, such as the recently launched Australian dollar purchase feature.
The project team has begun to layout ecological construction. Pi Network Ventures plans to launch, supported by 100 billion PI and USD funds, aimed at increasing the usage and value of the token in the real world.
If the team can solve the current communication vacuum and timely announce progress on the roadmap, it may restore market confidence. As BitMEX co-founder Arthur Hayes said: "I have not seen any significant progress from Pi Network recently that could drive the price to soar."
Conclusion: A crossroads of risks and opportunities
As of July 23, the price of Pi Network fluctuated around $0.47, with both bulls and bears battling in the $0.43–$0.50 range. The short-term trend depends on whether it can hold the $0.43 support and break through the $0.50 resistance.
2025 Price Prediction Presenting a polarized situation. Conservative models warn of a potential drop to the historical low of 0.40 dollars, while optimistic forecasts expect the improvement of the ecosystem to drive the price towards 4 dollars.
Pi Network is at a critical crossroads between ideals and reality. Its innovative model of mobile mining and the foundation of millions of users showcase great potential, but the realization of value requires substantial support such as a complete mainnet, a thriving ecosystem, and practical application.
