What’s Next for Pi Network? PI Coin Price Consolidates, is a Push to $0.78 Even Possible?

TL;DR

• Pi Network trades at $0.38, down 7% daily, with key resistance levels at $0.78 and $1.50.
• MACD shows weak momentum, Stochastic RSI oversold; breakout above $0.78 could signal potential trend reversal.
• Chainphon to list PI August 12; .pi domain auction extended, enabling custom wallet addresses.

PI Stuck in Consolidation

Pi Network (PI) was trading at $0.38 at press time, down 7% over the past day. Daily trading volume is $115.2 million. Over the last week, the price has risen 7%.

In the past 24 hours, PI moved between $0.38 and $0.40. Over the week, the range was $0.34 to $0.46. The market capitalization is $2.96 billion. Total supply is 12.03 billion PI, with 7.82 billion circulating and 5.23 billion locked.

On the 4-hour chart, PI is showing a long period of consolidation after earlier declines. A descending trendline continues to cap price movement. Key resistance levels are at $0.78, $1.50, and $5.00.

The MACD is close to zero, reflecting weak momentum. The Stochastic RSI is near oversold levels, pointing to possible short-term buying interest. A move above $0.78 would be the first sign of a potential trend change.

Liquidity and Network Activity

According to piscan.io data, centralized exchanges hold 409.4 million PI. OKX holds 29.55 million, while Bitget holds 139.9 million. Most of the supply appears to be off exchanges, possibly in wallets or staking.

Meanwhile, the network processes 0.714 transactions per second, with 22,163,901 blocks produced. This shows a light transaction load at current activity levels.

Ecosystem Updates

Chainphon will list PI on its dApp, opening $PHONE/$PI trading at 09:00 AM UTC on August 12. The launch includes a 100 PI giveaway for users answering a question about the coin’s launch date.

Pi Network has also extended its .pi Domains Auction until the end of September. These domains let users create simple, name-based wallet addresses, similar to Ethereum’s .eth and BNB’s .bnb, aimed at making payments and interactions easier.