Crypto: Network Pi reserves explode on the CEX … A fall in sight?

Carried by the promise of a mining accessible from a smartphone, Pi Network had managed to mobilize a large community. However, while the volumes explode on the centralized exchanges and the official announcements are struggling to convince, the project is going through an unstable period. From now on, enthusiasm gives way to doubts, fueled by opaque decisions and communication deemed disappointing. A strategic turning point seems inevitable, under penalty of seeing one of the most followed projects of the crypto sphere disappear.

PI reserves accumulate, technical signals are reversed

This Monday, June 16, PI Network with a price under $ 0.60 is changing against a crypto market generally oriented towards the rise. After A 3.52 % technical rebound recorded on Saturdaythe Token Pi lost almost 0.50 % in the space of 24 hours.

Indeed, Pi Network failed to exceed the exponential mobile average of 50 periods at $ 0.61, a key threshold to confirm a recovery. The RSI stagnates at 49, which translates a hesitant dynamic, while the MacD approaches a potential lowering crossing. If the $ 0.57 support gives in, the scenario of a return to $ 0.50 is strengthening.

However, it is on the side of tokens flows that the signals are the most critical. Piscan data indicate a clear increase in PI reserves on several centralized exchanges (CEX), reflecting latent selling pressure. In the space of 24 hours:

• Gate.io received 1,336,196 pi, more than half of the total incoming flows;
• OKX displays a net influx of 904 384 ft;
• Bitget records an additional 186,316 pi;
• The total net flows cumulative on five CEX reaches 2,458,127 ft;
• In parallel, the #2 portfolio of the PI Foundation transferred 14,820 tokens, which suggests a movement of relief.

These consolidated on-chain data reinforce the hypothesis of an excess of potential supply on the secondary market, at a time when technical indicators saw red. If these tokens were to be put into circulation, an additional lower pressure on the PI lesson would be difficult to avoid.

An increasingly skeptical pioneering community

The recent announcement of the evolution of the application. Pi Domains, yet presented as an important milestone by the PI Core Team, did not have the expected effect with the community.

Many members of the community have expressed their disappointment following major bugs, which underlines the lack of significant advances outside the initiative linked to the domains.

The update of June 13, which introduces a statistics page and autonomous management of the tool via a separate application, is far from having mobilized enthusiasm. On X (ex-Twitter), Pi Network News Global even estimated that “if the announcement of the PI2day is limited to the areas. PI, it will be a very bad signal”.

Frustration is all the stronger since expectations around Pi2day are high. However, the signals sent by the project in recent weeks seem contradictory. The total volume engaged in the auctions. pi Since their launch has only reached 3 million PI, barely $ 1.8 million, a derisory sum in view of the daily volumes exchanged.

To this are added structural gaps that persist: Only six companies have validated their KYBno new major list has strengthened the liquidity of the token, and the Pi Ventures investment fund ($ 100 million) remains inactive. These elements feed the impression of a strategic shortness of breath, despite these announcements.

As the unlocking scheduled for July 248 million, the largest until October 2027 is closer, the concerns crystallize. To avoid a gradual disengagement of its community, the PI Core team will quickly have to offer concrete advances (integration of new applications, acceleration of KYC, opening to smart contracts or strategic partnerships), like migration to the Mainnet which had propelled Pi Network. Otherwise, the project could switch from stagnation to marginalization.