Will the price of Pi Network rise or fall in June?

Pi Network continues its recent sell-off as traders remain concerned about the increasing outflow of funds from the exchange and the upcoming token unlock. The Pi Coin ( PI ) has fallen for eight consecutive days, reaching a low of $0.6025, the lowest since May 8, and is currently down 61% from its peak in March. The sell-off of this currency has accelerated since the Pi Core Team launched Pi Network Ventures, an initiative that will provide $100 million in funding for projects on the network. Although the ecosystem fund is a positive development, it is not what most traders expect. Social media users largely expect a listing on an exchange from major platforms like Binance, Coinbase, or Upbit. PI has fallen sharply because no major exchange has listed this token after its mainnet launch in February. Pi coin has also fallen sharply as more tokens are transferred to exchanges. Pi Scan data shows that the net trading flow in the past 24 hours is 3.03 million coins, a sign of investor capitulation. You may also like: Will the cryptocurrency rally include Ethereum? The market auction pattern indicates a breakout at $3,340. In total, 5.6 million coins have been transferred from self-custody wallets to exchanges, while only 2.65 million coins have been transferred out. This trend has continued in recent weeks. The fall of the token is also driven by the daily unlocking of tokens. In the next 30 days, more than 275 million coins are scheduled to be unlocked. Valued at around 176 million dollars, these tokens account for approximately 5.31% of the total supply. Token unlocking is often deflationary as it increases the circulating supply, putting downward pressure on prices. There are also ongoing concerns about Pi Network's centralization. Current data shows only 27 nodes are active, no validators, and 317 nodes are disconnected, indicating that the Pi Core Group still holds significant control. Meanwhile, the Pi Foundation is said to hold more than 92 billion coins on more than 2,000 wallets. Technical analysis of Pi Network price

The four-hour chart shows that Pi Network has extended its strong downward trend in recent days, falling from a high of $1.6690 in May to $0.6420. The chart also shows that this coin is trading below the 50-period moving average and has formed an inverted cup and handle pattern, a well-known bearish continuation signal. The ongoing consolidation reflects the formation of the handle. In this context, the token price is likely to continue to fall, as sellers target the initial support level of $0.5547, the lowest since April 20. If the price drops below that level, it will signal the next downtrend, potentially reaching a record low of $0.40.