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  • Pi Network Struggles to Break $1 Despite Kraken Futures Listing
  • Analysis
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Pi Network Struggles to Break $1 Despite Kraken Futures Listing

Jane Kariuki 26 May 2025
Pi Network or Pi COIN logo on black
  • Pi Network is trading at $0.78 despite its Kraken Pro futures listing and ongoing ecosystem growth.
  • Bearish indicators and insider token sales continue to pressure the price below the $1 mark.

The Pi Network’s native token, PI, is struggling to maintain upward price pressure despite recent milestones, including its debut on Kraken Pro. The listing introduced perpetual futures trading with up to 20x leverage, signaling Pi Network’s formal entry into the U.S. futures market. However, the anticipated price surge failed to materialize.

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Pi Network Kraken Listing Fizzles Out Below $1

On May 23, Kraken Pro launched PI perpetual futures, sparking initial optimism among investors. The move was seen as a major breakthrough for Pi Network, which now allows futures trading backed by more than 40 collateral assets. While PI briefly rallied to $1.60 earlier this month, the gains proved short-lived. The token has since retraced to $0.78—still 27% below the psychologically important $1 threshold.

$PI @PiCoreTeam perpetual futures now live with up to 20x leverage 🔥

Why choose Kraken Pro futures:

☑️ 40+ collateral options
☑️ 360+ markets

Open PI perp 👇 https://t.co/NHHpKobugb

*geo restrictions apply pic.twitter.com/aiJrJRbxW4

— Kraken Pro (@krakenpro) May 23, 2025

Market enthusiasm appears to be cooling. Trading volume has plummeted by over 60% from recent highs, and PI is down nearly 3% in the past 24 hours. Despite Kraken’s backing, the listing hasn’t sustained meaningful price action.

Bearish Indicators Weigh on Price Action

Technical analysis paints a cautious picture. The MACD is flashing red bars, the RSI continues to weaken, and the Sharpe Ratio stands at -6%, far from levels signaling a bullish reversal. PI is currently trapped within a descending triangle formation, locked between $0.73 and $0.78 support zones.

A breakout above $0.78 could spark short-term gains toward $0.84 or $0.96. However, the more critical resistance remains at $0.87. Without strong volume and bullish support, a failure to surpass this level could drag the price down to $0.71.

PI NETWORK PRICE FOR 24 HOURS PERIOD
PI NETWORK PRICE

Ecosystem Expansion Offers Long-Term Hope

While PI’s price action remains tepid, the Pi Network continues to grow its ecosystem. Since launching the Open Mainnet in February, over 25 decentralized applications have gone live. The platform now boasts 60 million users, including 19 million with verified KYC accounts.

The network has also increased its validator nodes from three to 23 and plans to enable conversion of Fireside tokens into PI. However, centralization concerns still loom. Reports of 12 million PI tokens being sold from insider-controlled wallets have raised doubts about the project’s decentralization, contributing to a sharp 50% drop earlier this month.

Despite these setbacks, Pi Network’s gradual development and user base growth could lay the groundwork for long-term adoption. But for now, PI remains firmly capped under the elusive $1 barrier.

ALSO READ:Solana Price Struggles Near $200 Amid $80M Token Unlock

DISCLAIMER:
The views and opinions expressed herein are solely those of the author  and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.

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