Pi Network's native token has rebounded sharply from lows set earlier in the summer, gaining 13% over the past month and trading around $0.094 per CoinGecko. The recovery has pushed the token's market capitalization back above $1 billion, making it the 68th-largest cryptocurrency by that measure.
The token is up 34% from its July historic bottom, a significant reversal after an extended period of weakness. Market observers remain divided on whether gains will continue.
Technical Indicators Show Mixed Signals
Several technical analysts point to bullish setups. The token's Relative Strength Index has declined to nearly 30 on a weekly scale, suggesting oversold conditions that traders typically view as a buying opportunity. Some analysts note that Pi is holding support around $0.09–$0.10 after a consolidation period.
However, not all observers are optimistic. One analyst identified a rising wedge formation with compressed momentum near $0.095 resistance, suggesting a potential breakdown toward $0.085.
Speculation Around Burning Mechanism
Recent discussion has focused on whether Pi Network might implement a token-burning program. Some community members have speculated about such a mechanism, pointing to examples like Shiba Inu's burn efforts. However, Pi Network community sources have stated the project does not plan to burn tokens from its 100 billion total supply, arguing that its inclusive mining model and long-term adoption focus differ fundamentally from deflationary approaches.
