- Pi coin price has fallen 60% following a weak response to the .pi domain upgrade.
- Exchange inflows and token unlocks signal increasing downward pressure.
- Users have voiced concerns about security and a stall in ecosystem growth.
The Pi Network ecosystem is facing growing uncertainty as worries over the auction of .pi domains weigh heavily on the original Pi token’s price.
Pi coin, which briefly rose to $1.50 in April, has dropped sharply and is now hovering around the $0.60 mark.
This decline has sparked renewed speculation about the network’s long-term prospects and the token’s near-term price trajectory.
Pi token decline raises red flags across the community
Pi’s recent 60% price decline over the past month has alarmed both users and investors.
Although the Pi Core Team released an app to handle the .pi domain auction, the update has not delivered the ecosystem-wide improvements many participants expected.
The auction was promoted with features such as real-time statistics and email notifications to increase engagement and expand digital participation.
Critics argue the changes have failed to address deeper platform issues, including KYC delays and limited merchant adoption.
Frustration has grown as users voice their dissatisfaction with the lack of new listings, application integrations, or smart contract functionality.
These gaps have amplified skepticism as Pi Network prepares for its next major event — Pi2Day on June 28.
Domain auction participation alone is not enough
Although more than 3 million Pi tokens have been used to place bids in the .pi domain auction—roughly an estimated $1.8 million in value—the impact appears modest compared with the network’s daily trading volume.
Low conversion of domains into genuine utilities—such as live websites, businesses, or dApps—has also drawn criticism. Many domains have been snapped up for speculative purposes, including taking common terms or brand-like names.
Despite the emphasis on potential utility, developers and merchants have yet to actively leverage these domains to anchor meaningful services. The absence of such applications continues to slow the initiative’s momentum.
CEX inflows raise fears of market sell-offs
Pi’s trading volumes rose 60% over the past 24 hours, but the spike was not driven by positive sentiment.
Instead, centralized exchanges recorded large inflows—often a sign that holders are preparing to sell.
Gate.io led with more than 1.3 million PI deposited, followed by OKX and Bitget. These figures point to potential coordinated selling that could add pressure to already fragile support levels.
At the same time, about 11 million PI tokens are being unlocked daily, increasing the risk of oversupply.
With demand stagnating, this unlock schedule raises concerns about a prolonged downward trend.
Security concerns deepen the bearish mood
Alongside worries over the .pi domain auction and rising trading volumes without positive market sentiment, community morale suffered another blow following reports of a password leak related to PiChain Global.
Users were urged to take immediate steps to secure their Pi accounts and bind their email addresses to the Pi Chain Mall platform.
Although this incident appears isolated, it has highlighted broader concerns about the platform’s readiness for mainstream adoption.
Calls for multi-layered security and stronger identity verification mechanisms have intensified.
While the Pi Core team responded promptly with recommended procedures, restoring trust is likely to take time.
Pi coin outlook hinges on clearer utility
Technically, Pi is consolidating between $0.57 and $0.60, but analysts warn that support at this level is under serious threat.
Some indicators suggest a possible rebound toward $0.67, yet the dominant momentum remains bearish.
Without a strong catalyst—such as a surprise listing or a major feature announcement during Pi2Day—most signals point to continued sideways or downward movement.
The MACD is approaching a bearish crossover, and the $0.66 resistance level has held firm.
As Pi Network seeks to revive community engagement, investors will be watching for concrete signs of growth.
If the ecosystem fails to deliver long-promised features and tangible utility, the PI token may continue to drift lower.
For now, market sentiment remains cautious, and the short-term outlook for Pi coin is clouded by unresolved issues and increasing disappointment among its user base.