Can the Pi Network break through the key resistance of 0.78 USD? An in-depth analysis of value and future trends.

As of mid-August, the price of Pi Network (PI) fluctuated around $0.38, with a daily decline of about 7%, still a significant distance from the key resistance level of $0.78. Technical indicators show weak momentum, but the stochastic RSI is nearing the oversold zone, indicating a potential for a short-term rebound. As the ecosystem continues to expand, the .pi domain service auction is extended, and new applications go live, the market begins to follow: Can the PI coin usher in a trend reversal and even challenge the key price levels of $0.78 and $1.50?

Current Price and Technical Analysis

(Source: Trading View)

The current price of PI is 0.38 USD, with a 24-hour trading volume of approximately 115.2 million USD and a market capitalization of 2.96 billion USD. Over the past week, the price has fluctuated in the range of 0.34–0.46 USD, showing an overall consolidation pattern.

The 4-hour chart shows that the PI price is still under pressure from the downward trend line, with the MACD close to the zero line and momentum being weak; the stochastic RSI is approaching the oversold zone, indicating that short-term buying pressure may return. If it can effectively break through 0.78 USD, it will be the first signal of a potential trend reversal; on the contrary, if it breaks below the 0.34 USD support, it may continue to consolidate or even decline further.

Liquidity and Network Activity

According to on-chain data, centralized exchanges hold approximately 409.4 million PI, with the largest single holding being 139.9 million. This means that most tokens are still stored in wallets or locked, resulting in limited market circulation.

The network currently processes about 0.714 transactions per second, with a total of over 22.16 million blocks generated, indicating a relatively moderate transaction load.

Latest Developments in the Ecosystem

Application Launch: Chainphon has opened $PHONE/$PI trading on its dApp on August 12 and is holding a 100 PI giveaway event to attract user participation.

.pi domain auction extended: The official .pi domain auction has been extended until the end of September, allowing users to create name-based wallet addresses, similar to Ethereum's .eth, aimed at simplifying payment and interaction experiences.

Community and User Base: Since its launch in 2019, Pi Network has accumulated over 40 million active users, relying on mobile mining and an invitation system to drive community expansion.

Value Controversy of Pi Network

Advantage

Mobile mining lowers the participation threshold, allowing more users to access cryptocurrencies.

The consensus mechanism is low in energy consumption and aligns with environmental trends.

Viral community expansion provides a foundation for future ecological development.

Challenge

The mainnet is still in a closed phase, and most tokens cannot be freely traded.

The actual application scenarios are limited, and the adoption rate by merchants still needs to be improved.

The lack of transparent market pricing and liquidity makes the value highly dependent on community confidence and future development.

Future Trends and Key Observations

The core factors affecting the PI price include:

Mainnet fully open: The integration of trading and wallets will be key to enhancing liquidity.

Merchant and dApp adoption: More applications and platforms accepting PI payments will enhance practicality.

Community governance and transparency: Ongoing development progress and open communication contribute to stabilizing market confidence.

Technical breakthrough: $0.78 is the most important resistance level in the recent period, and a breakout could challenge $1.50.

Conclusion

Pi Network has established a reputation in the global cryptocurrency market through mobile mining and a large community base. However, before the mainnet is fully open and application scenarios are implemented, its value remains primarily speculative. For investors, short-term attention should be on the technical breakthrough at $0.78 and the actual progress of the ecosystem; long-term depends on whether the team can convert the large user base into real economic activities. Gate will continue to track PI price trends and ecosystem development, providing users with the latest analysis and strategic recommendations.