Pi Network (PI) Price Falls Despite Successful PiFest 2025 Event

Pi Network recently held PiFest 2025, an event aimed at increasing the token's adoption. Over 125,000 sellers and 58,000 merchants participated

Pi Network, the cryptocurrency project known for its novel mining system that engages users through a mobile application, held its inaugural PiFest event in March. The event, designed to promote tokenization and increase the use of the PI token, saw an impressive turnout. Over 125,000 sellers and 58,000 merchants participated, offering a diverse range of goods and services. More than 1.8 million Pioneers engaged in transactions across cafes, boutiques, auto shops, and freelance services.

However, despite the event’s success and widespread adoption, the price of PI continues to fall. The token has dropped significantly since the beginning of the year, and its performance contrasts sharply with the broader crypto market’s strength. Bitcoin recently surpassed the $85,000 mark, while Ethereum is holding strong above $1,850.

Technical indicators on the 4-hour chart suggest further downside risk for PI. The token is trading within a descending triangle, a pattern that typically signals continued price declines unless there is a strong breakout. The Relative Strength Index (RSI) has fallen to 26.18, indicating oversold conditions but with no immediate signs of an upcoming reversal.

Additionally, PI has dropped below the 20-period Exponential Moving Average (EMA), another bearish signal. If the selling pressure persists, analysts predict that the price could retest the low at $0.6152 or even fall below the $0.50 psychological handle. Conversely, a potential rally could push PI toward the 38.2 percent Fibonacci retracement level at $1.53 if buying interest picks up significantly.

Despite the current setbacks, Obchakevich remains optimistic about Pi Network’s long-term potential, especially if it can manage to survive the current market instability. "I think the project certainly has the potential to compete with the top 10 projects in the future," he noted.output: Pi Network, renowned for its unique cryptocurrency project that engages users through a mobile application to mine tokens, recently held its inaugural PiFest event in March. The event was designed to promote tokenization and increase the use of the PI token for real-world transactions.

The event saw an impressive turnout, with over 125,000 sellers and 58,000 merchants participating, offering a diverse range of goods and services. More than 1.8 million Pioneers engaged in transactions across cafes, boutiques, auto shops, and freelance services, showcasing the token’s growing adoption.

However, despite the event’s success and widespread participation, the price of PI has been struggling. The token’s value has dropped significantly since the beginning of the year, raising doubts about the project’s ability to sustain real-world use.

The broader crypto market is currently thriving, with Bitcoin surpassing the $85,000 mark and Ethereum trading steadily above $1,850. In contrast, PI’s performance is lagging, and its price continues to decline.

Technical indicators on the 4-hour chart suggest further downside risk for PI. The token is trading within a descending triangle, a pattern that usually signals continued price declines unless there is a strong breakout.

The Relative Strength Index (RSI) has fallen to 26.18, indicating oversold conditions but with no immediate signs of an upcoming reversal.

Additionally, PI has dropped below the 20-period Exponential Moving Average (EMA), another bearish signal.

If the selling pressure persists, analysts predict that the price could retest the low at $0.6152 or even fall below the $0.50 psychological handle. Conversely, a potential rally could push PI toward the 38.2 percent Fibonacci retracement level at $1.53 if buying interest picks up significantly.

Despite the current setbacks, Obchakevich remains optimistic about Pi Network’s long-term potential, especially if it can manage to survive the current market instability.

“I think the project certainly has the potential to compete with the top 10 projects in the future,” Obchakevich said, highlighting the project’s strong community and unique value proposition.output: Pi Network, known for its cryptocurrency project that engages users through a mobile application to mine tokens, held its inaugural PiFest event in March to promote tokenization and increase the use of the PI token.

The event saw a participation of over 125,000 sellers and 58,000 merchants offering various goods and services, while more than 1.8 million Pioneers engaged in transactions across cafes, boutiques, auto shops, and freelance services.

However, despite the event’s success and widespread adoption, the price of PI continues to fall. The token has dropped significantly since the beginning of the year.

The broader crypto market is currently thriving, with Bitcoin surpassing the $85,000 mark and Ethereum holding strong