While Bitcoin and other major altcoins continue their upward momentum, Pi Coin is facing the opposite fate—down over 11% this month despite a $3.68 trillion market-wide rally.
But beneath the current weakness, some analysts believe a breakout may still be on the horizon.
At the core of Pi’s struggles is oversupply. The network is unlocking massive amounts of tokens—145 million more in the rest of July, followed by millions monthly through October. This flood of new supply, combined with investors pulling over 1.4 million tokens from exchanges in the past day, has created additional selling pressure.
Adding to concerns is the network’s governance structure. The Pi Foundation controls over $33 billion worth of tokens in unaudited wallets—raising red flags about centralization. This might explain why top exchanges like Binance and Upbit have yet to list Pi.
Despite the ongoing bull run, Pi Coin’s daily trading volume lags behind meme coins like Pepe and Shiba Inu, sitting at just $80 million—suggesting low retail interest.
However, technical indicators suggest a possible reversal. The token is showing signs of accumulation, with volatility and volume dropping sharply—often a prelude to upward movement. Chart patterns like a falling wedge and a double-bottom at $0.4056 hint at a bullish setup. A breakout above $1 could push Pi toward $1.66, while failure to hold support risks further downside.
Whether Pi Coin joins the broader rally or continues to lag may depend on how the market absorbs upcoming unlocks—and whether investor confidence returns.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/why-pi-coin-is-falling-behind-while-the-crypto-market-surges/