Potential Recovery Expected as Major Announcement Approaches

TLDR

• Pi Network price has dropped from $3 to $0.63 since February’s mainnet launch
• Major ecosystem announcement expected on May 14 at Consensus Toronto
• Binance-linked wallets reportedly testing PI transactions
• Technical indicators show consolidation phase that could precede breakout
• Over 668 million PI tokens will unlock from May through July 2025

The Pi Network cryptocurrency has experienced a steep decline since its mainnet launch in February 2025. The price has fallen from $3 to approximately $0.63, reducing its market valuation from $15 billion to $4 billion. This drop has caused losses for early investors and pioneers in the project.

Despite this decline, several factors suggest that Pi Coin might be poised for a potential price recovery in the coming weeks.

The most immediate catalyst is an upcoming announcement from the Pi Network development team. They have scheduled a major ecosystem announcement for May 14 during the Consensus event in Toronto.

A Pi ecosystem announcement will be released on May 14. Tune in to find out what’s coming next! pic.twitter.com/5jn7m5mlmD

— Pi Network (@PiCoreTeam) May 7, 2025

While the exact nature of this announcement remains unknown, it has already sparked market interest. The token price increased by over 10% on Thursday as speculation grew.

The announcement could involve several possible developments. One possibility is the creation of an ecosystem fund, similar to those established by other major cryptocurrency projects. Such a fund would provide financial support to developers building applications on the Pi Network.

Another possibility is a listing on one or more major cryptocurrency exchanges. HTX, formerly known as Huobi, has posted cryptic messages on social media that some interpret as hints about a potential Pi listing.

Exchange Listing Speculation

The prospect of exchange listings represents a key potential driver for Pi Network’s price.

Researcher CRYPTOAD00 shared findings on May 7 suggesting that Binance may be testing Pi transactions. According to the researcher, a Binance Stellar deposit wallet matches a Pi Network wallet showing activity on the Pi mainnet. This wallet was reportedly created two months ago.

A second wallet has also displayed similar activity, sending 1 PI in what appears to be verification testing. While neither Binance nor Pi Network has confirmed these claims, the cryptocurrency community is watching closely.

Another community platform called Pi Barter Mall claimed on May 1 that Pi Network and Binance were in the “final stage” of negotiations, though this has not been verified by either party.

Several factors have made exchanges hesitant to list Pi in recent months. Concerns about tokenomics that favor insiders have been raised, with insiders reportedly owning over 35 billion of the 100 billion tokens. Some exchanges, like Bybit, have expressed skepticism about the project.

Low liquidity has also been a concern. CoinMarketCap data shows that daily trading volume has dropped from $1.3 billion to just $45 million—a decrease of 96%.

Despite these issues, many top-tier exchanges typically undergo lengthy review processes for new tokens, and Pi Network may still be under consideration by major platforms.

Technical Analysis Points to Potential Breakout

From a technical analysis perspective, Pi Network’s price chart shows signs that could precede a positive move.

The token has been in a consolidation phase for several weeks. According to Wyckoff Theory principles, this pattern of low volume and sideways price movement often represents an accumulation phase before a potential markup period characterized by increased buying interest.

Technical indicators also show narrowing Bollinger Bands this year, which often precedes increased volatility. The price chart has formed a falling wedge pattern with two descending, converging trendlines—a pattern that typically resolves with a bullish breakout when the lines converge.

These technical elements, combined with the fundamental catalysts mentioned earlier, suggest the possibility of upward price movement in the coming weeks.

Token Unlock Pressure Looms

While positive developments may support price growth, Pi Network faces pressures from upcoming token unlocks. According to blockchain data from PiScan, more than 668 million Pi tokens are scheduled to unlock from May through July 2025.

This includes 212.2 million in May, 222.6 million in June, and 233.4 million in July. These unlocks will increase the circulating supply at a time when trading volume has decreased dramatically.

Centralized exchanges are gradually accumulating more Pi tokens. Currently, Bitget holds over 95 million PI while OKX has approximately 154 million. Exchange reserves have more than doubled since February, raising concerns about potential selling pressure when tokens unlock.

At the time of writing, Pi is trading at $0.58, with minimal price change since early May. The initial price target for bullish expectations is $1.