Pi Network Price Faces Crash Below $0.10 as Retail Demand Wanes Despite Next Week’s Upgrade

Pi Network price continues to struggle under weak retail demand, and a bear flag pattern has now emerged, suggesting that it is about to drop below the psychological support level at $0.10 as the upcoming Protocol 25 upgrade fails to draw buyers.

The price of Pi Coin was down by 1.1% today, June 11, to trade at $0.124 at the time of writing, with $7 million in trading volumes per CoinGecko.

Pi Network Sees Weak Retail Demand Ahead of Another Upgrade

Pi Coin’s open interest has fallen to $18.25 million for the first time since March 4, 2026, per Coinanalyze data, as futures traders shy away from opening new positions on PI even with Protocol 25 happening on June 18.

The Network has been having upgrades nearly every month since the protocol 20 upgrade completed in March 2026.

The initial upgrades between V20-22 saw Pi Network record some gains as buyers bought into the speculation that an improved network would draw users and contribute to increased dApp activity.

But the most recent Protocol 24 that occurred on June 9 shows that the tide has shifted because the Pi Network price dropped to an all-time low of $0.118 on June 6, one day after the upgrade happened.

The Protocol 25 upgrade taking place on June 18 might also not fuel gains, especially now that the crypto market sentiment is in “extreme fear,” creating a bearish long-term Pi Network price outlook.

Pi Network Price Risks Crash to $0.10 as Bear Flag Forms

Pi Network price has created a bear flag on the daily chart that suggests that the rise from $0.11 to $0.13 is a false relief rally, and the price is about to go back into a downtrend.

The flag pole of this pattern has a height of 23% after the price dropped from $0.153 on May 31 and reached $0.118 on June 6.

The support of this flag channel at $0.118 is also Pi Network’s all-time low, and that means it is serving as a psychological support level. If the price of PI falls below $0.118, it will register a decline of 23% that is the same as the flag pole’s height.

Dropping by 23% from the support of $0.118 will take the Pi Network price below $0.10 to $0.0908.

The RSI has a reading of 29 that the momentum is bearish, and this drop to $0.0908 might occur if buyers continue to shy away.

But the AO bars that are green on the negative side offer some hope to bulls because they show that the bearish momentum is becoming weak, and some buyers might come back.

Ongoing Token Unlocks Increase Sell-Side Pressure

Pi Network price also continues to struggle with ongoing unlocks of more coins, even when the demand is too low to absorb the millions of PI coins that are set for release before June ends.

Data from PiScan shows that 119 million PI will be unlocked in June alone, and the only way this does not end up being bearish for Pi Coin is if they are absorbed by buyers.

But the current rate of buying is not enough to offset this supply overhang because there were 259,000 PI flowing out of exchanges on June 11, with 16 million tokens unlocks the same day.

That means there needs to be an eight times increase in the tokens flowing out of exchanges to offset this supply overhang and prevent PI from dropping below $0.10.