Pi Coin Recovers 40% Following 280M Token Unlock — Is It Finally Bottoming?

Pi Network’s native token PI staged a sharp recovery on June 13, bouncing 40% after a dramatic post-unlock sell-off that had seen prices plunge over 37% in just two days.

Israel-Iran Conflict Boosts PI Sell-off Sentiment

Pi crypto’s sell-off began after Pi Network unlocked approximately 280 million tokens on June 11, introducing a fresh wave of supply into the market.

The situation was exacerbated by a renewed military conflict between Israel and Iran, which pressured broader crypto markets. PI cun price dropped to as low as $0.39 during the decline, a level that previously acted as a pivotal support in April.

Technical signals suggest the $0.39 area may have once again served as a local bottom.

On April 5, a similar retest of this level, coupled with an oversold 14-day relative strength index (RSI) near 32.50, triggered a 300% rally toward $1.60. The June 13 rebound echoed that structure, with RSI falling to around 34 before bulls re-entered the market.

The bounce also aligns with a retest of the lower trendline of a broader symmetrical triangle pattern that has contained price action since March.

If the pattern holds, PI could continue rallying toward the upper boundary of the triangle near $0.78, which also coincides with the 50-day exponential moving average.

Pi Network Users Complain About Migration to Mainnet

PI’s recovery comes as Pi Network continues to grapple with ongoing user migration issues.

Over the past month, many users have reported problems transferring their balances and verifying wallets, despite following the required steps. Complicated Know Your Customer (KYC) protocols and delays in two-factor authentication (2FA) have only added to the frustration.

Confirm your $Pi wallet again if it’s yellow and complete two factor authentication in order to be eligible for 2nd migration.
Validate your checklist and complete anything showing in yellow.

— Pi News (@PiListingNews) June 2, 2025

These hurdles have slowed the transition to the mainnet, further straining sentiment in the community.

In response, the Pi Network team has issued multiple warnings about phishing attempts and scam interfaces, urging users to interact with their wallets only through the official Pi Browser.

But Is the Bottom In?

Despite the recovery, PI remains down significantly from its April highs, and risks of further downside persist. A confirmed breakdown below the current triangle support would invalidate the bullish structure, potentially sending the price back toward the $0.39 zone, or lower.

Volume trends offer mixed signals, with rebound volume on June 13 failing to surpass prior sell-off bars. This suggests traders remain cautious, awaiting either a decisive breakout above resistance or confirmation of breakdown below support.