Pi Coin fell 25% over the past 20 days amid growing investor outflows that on-chain metrics flag as substantial capital leaving the ecosystem. The move has pushed sentiment into “extreme fear” and left the token trading below key trend indicators, immediately raising the risk of further downside without renewed inflows.
On‑chain data shows accelerated outflows from the Pi ecosystem, with some measures reaching record levels and signaling sustained selling pressure. Market sentiment readings are heavily skewed to the downside: a Fear & Greed Index at 16 captures extreme investor pessimism, and the majority of sentiment indicators — 18 of 22 — point toward a bearish outlook. Broader market weakness has coincided with Pi’s decline, at times mirroring drops in larger assets such as Bitcoin, which has amplified selling across smaller tokens.
Pi is trading below major Exponential Moving Averages (EMAs), a condition that typically signals that short‑term momentum is weaker than the prior trend. EMAs are moving averages that give more weight to recent prices and are used to gauge current momentum. Chaikin Money Flow (CMF) has dipped below zero, indicating net capital leaving the token on volume‑weighted terms.
Market indicators and on‑chain flows for Pi Coin
Charts referenced in recent analysis characterize the move as a “falling knife” — a market where prices keep making lower lows without a clear base; attempting to buy into such declines tends to be high‑risk for retail participants. Technical downside levels cited by analysts include a potential consolidation under $0.20; a confirmed break below $0.174 could expose Pi to a slide toward $0.130. Without material new inflows, the probability of testing those supports increases.
Pi Coin’s 25% drop over 20 days, combined with record‑like outflows and extreme fear readings, leaves the token vulnerable until investor flows stabilize. The immediate market test is whether Pi can hold near‑term supports around $0.174–$0.20; a failure there would open the path to lower levels, while renewed inflows would be required to arrest the downtrend.
