Pi Network Price Dips on May 6 — Is the $1 Milestone Still Within Reach?

Updated

May 6, 2025

Gambar Pi Network Price Dips on May 6 — Is the $1 Milestone Still Within Reach?

Jakarta, Pintu News – Recently, Pi Network recently announced a strategic partnership with BNP Paribas, one of Europe’s largest and most reputable financial institutions.

This partnership has sparked speculation about the potential price increase of the Pi (PI) cryptocurrency to reach $1 in the near future. Before that, let’s explore the Pi Network’s price movements today first!

Pi Network price drops 0.6% within 24 hours

Today, the price of Pi Network (PI) was recorded at $0.5852, having decreased slightly by 0.6% in the last 24 hours. If converted into today’s rupiah ($1 = IDR 16,465), then 1 Pi Network is IDR 9,635.

During this time, PI moved in the price range of $0.5835 to $0.5938, reflecting relatively low volatility.

The trading volume in the last 24 hours reached $47.75 million, indicating quite active market activity despite not very significant price movements. Currently, Pi Network’s market capitalization stands at around $4.12 billion, while its fully diluted valuation stands at over $6.34 billion.

Transformative Collaboration: Pi Network & BNP Paribas

Pi Network (PI) has formed a partnership with BNP Paribas, one of Europe’s largest and most trusted financial institutions, as the Pi Network’s Global Open Mainnet launch nears.

BNP Paribas has introduced an innovative online payment service combining Open Banking APIs and Instant SEPA transfers. This technology will be integrated with the Pi Nexus Banking System.

This collaboration brings various benefits, such as faster transactions, cost efficiency, financial inclusion, cross-border expansion, and increased trust from institutions.

Businesses can benefit from Pi’s ecosystem of low fees and instant SEPA transfer support. Coupled with Pi’s blockchain technology, the system enables real-time settlement of transactions, which will drive further adoption.

Ecosystem Expansion: Mainnet Wallet Activation Update

In addition, Pi Network has rolled out an update regarding wallet activation on the Mainnet, aimed at lowering barriers for new users. This update allows Pioneers who have passed KYC verification to easily activate their wallets and start interacting with the Pi Mainnet.

Integration with third-party KYC providers such as Banxa also expands access, ensuring more users from different parts of the world can safely use the Pi blockchain.

Technical Outlook: Will PI Reach $1?

Based on data from CoinMarketCap on May 4, 2025, the price of PI was at $0.5940, up 1.40% in the last 24 hours. The cryptocurrency’s trading volume also spiked by 55.75%, indicating increased buying pressure from investors.

Through analysis of the 4-hour (4H) chart below, it can be seen that the nearest resistance level is at $0.6485 (Fibonacci 0.786), followed by $0.6848 (Fibonacci 1.618). Furthermore, the next areas of resistance are located at $0.7434 (2.618) and $0.8020 (3.618).

Meanwhile, the $0.8382 (Fibonacci 4.236) level could be an overextension zone-which is likely to become a $1 price test area if the market sentiment jumps sharply.

On the other hand, the RSI indicator is currently at 46.63, indicating neutral conditions and is recovering from oversold conditions that occurred around April 29. A bullish divergence was also formed, where the price formed a lower low but the RSI formed a higher low.

The MACD indicator shows that the blue line (MACD) is slightly above the orange line (signal line), indicating a potential bullish crossover is starting to form, although momentum is still weak. A stronger MACD histogram is required to confirm the sustainability of the positive sentiment.

It should be noted that if the price manages to retest and break the $0.6485 and $0.6848 levels, this could attract more buying volume and push the price to the $0.80 to $1 range. However, if it fails to break $0.6485, the price will most likely drop back down to the support area around $0.55.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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