Pi Network Crashes on July 17: 61 Million Tokens on the Move — Is a Drop to $0.26 Inevitable?

Jakarta, Pintu News – As reported by Coingape, the price of Pi Coin may face a 40% drop as it continues to lag behind most other altcoins which in the past week showed significant efforts to rise.

The bearish pressure that has been pulling prices down is likely to get stronger throughout the rest of the month, after PI broke to the downside of the bearish pattern, amid rising balances on the CEX that suggest traders are preparing to sell.

Currently (17/7), Pi Network is trading at $0.43 with a decrease of 1.1% in the last 24 hours.

Pi Network price drops 1.1% within 24 hours

On July 17, 2025, the price of Pi Network was recorded at $0.4387, a decrease of 1.1% in the last 24 hours. If converted to the current rupiah ($1 = IDR 16,324), then 1 Pi Network is IDR 7,161.

In the 24-hour time span, the lowest price recorded was $0.4328 and the highest was $0.4541, indicating quite volatile price movements in the short term.

Read also: Wondering Why Pi Network Isn’t on Binance or Coinbase? Here’s the Shocking Truth!

In terms of market capitalization, Pi Network has a market cap of $3.38 billion, while its fully diluted valuation (FDV) or valuation if all coins are in circulation reaches $5.2 billion. The trading volume in the last 24 hours was quite high, reaching $121 million, which indicates active interest from market participants despite the price correction.

Pi Coin Price Faces Downside Risk Amid Bearish Breakout

Pi Network tokens have performed poorly over the past month, with a drop of around 25% in this period-in contrast to the performance of other altcoins.

As losses continued, a bearishdescending triangle pattern was formed, with a downward breakout indicating a potential price drop of up to 40%.

This looming 40% drop is calculated from the height difference between the triangle’s upper resistance level at $0.74 and the support level at $0.44. This suggests that if bearish pressure manages to close the price below the support level with two consecutive candles, Pi Coin’s price could fall to $0.26 and print anall-time low.

The main reason why the bears are still in control of the market even though Pi Coin’s long-term price projection remains bullish, is because the price continues to move below the 50-day SMA level.

Failure to break above this level puts the price under the control of sellers, while buyers remain waiting on the sidelines as there is no clear bullish confirmation.

However, the bullish MACD divergence identified in the latest analysis from CoinGape’s website could help Pi Network’s price recovery, as long as PI is able to maintain the support level at $0.409.

Read also: XRP Set to Soar? 4 Big Reasons It Could Hit $5 This July!

The analysis states that if this signal is valid and the bulls are able to maintain support, then the price of Pi Coin could break through to the psychological resistance level at $1.

Pi Coin Deposits to Exchanges Surge in Last 24 Hours

Many PI Network tokens have begun to be moved to crypto spot exchanges, indicating the intention of current holders to sell, potentially accelerating the downward trend as per the bearishdescending triangle pattern.

Based on data from PiScan, in the last 24 hours (16/7), a total of 5.9 million PIs have been transferred to exchanges, with netflows during this period reaching over 1.8 million.

At the same time, concerns were raised over the transfer of 5 million tokens from a wallet associated with the PI Foundation.

If these tokens also hit exchanges and cause a panic that triggers other retail traders to sell, then a 40% drop in Pi Coin’s price – as signaled by the bearishchart pattern –is possible.

However, the negative impact of theseinflows to the exchange may have been curbed by the actions of a mysterious wallet that recently purchased millions of Pi Coin. This has led to speculation as to whether the Pi Foundation is conducting a tokenbuyback to support the price recovery.

In conclusion, Pi Coin’s price is currently weakening and starting to break below key support levels, confirming that the market is dominated by bears, and a drop below the previousall-time low may be imminent.

This downward trend is likely to continue as the number of tokens flowing into exchanges increases significantly.

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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.

Reference:

• Coingape. Markets: Pi Coin Price Prediction Triggers Sell-Off 61 M Tokens Exchanges. Accessed on July 17, 2025