Pi Coin is currently trading at $0.6404. It is still stuck below $1 and has dropped 33% over the last month. The Ichimoku Cloud, BBTrend, and EMAs also show no signs of strength yet.
If momentum does not return soon, Pi could see more downside before any recovery begins. The technical indicators show a mixed but slightly bearish picture. Most Oscillators, like RSI, Stochastic, and CCI, are neutral, while the MACD is bearish. But the momentum indicators are showing a buy, which shows early strength. The moving averages are also mostly bearish.
Pi is still under pressure, and it needs a breakout above $0.65–$0.70 to shift the trend in favor of bulls.
Source: Tradingview
Tough Week for PI?
According to CoinCodex, Pi Coin may face a tough week ahead. It is expected to fall the rest of the week up to $0.4848 by June 14. That would be a 23% weekly loss if no bullish catalysts emerge.
It is currently stuck in a bearish trend with the short-term EMA lines sitting below the long-term ones. This is a classic sign of continued downside, and if the bearish support grows, Pi may revisit key support zones. A breakdown there could push it below a critical level for the first time, leading to steeper losses.
On the flip side, if the buying picks up, it could rebound to the next major EMA resistance, sparking a 37% breakout rally. Analyst Moon Jeff, in a recent X post, wrote “Send $PI back to $1.2,” highlighting that this level marks a key resistance for Pi Coin. A breakout above this could be the start of recovery for the coin.
Despite Pi coin’s recent slump, the community remains hopeful ahead of the upcoming Pi Day 2 on June 28. Analyst Dr. Altcoin believes that a major update from the Pi Core Team could spark a price recovery. But if no major news drops, Pi risks sliding below its all-time low of $0.40.
In the last week of May, the cryptocurrency market experienced a slowdown in trading activity as participants took profits following recent rallies.
Despite this brief lull, several altcoins have caught the attention of large investors, commonly known as whales, who are accumulating positions in anticipation of potential price gains in June.
Dogecoin (DOGE)
The leading meme coin, DOGE, is among the assets crypto whales are accumulating for potential gains in June. This trend is reflected in the recent surge in DOGE accumulation among whale wallets holding between 1 million and 10 million tokens.
According to Santiment, this group of DOGE whales added 30 million tokens to their wallets over the past week.
Such buying activity by whales often serves as a strong signal to retail traders. Seeing large investors confidently increase their positions can encourage retail participation. This could drive up DOGE’s value as buying momentum builds across the market.
If buying pressure subsists, the token could resume its rally and climb to $0.206.
However, if whale accumulation stalls and selloffs strengthen, DOGE’s value could fall to $0.175.
Avalanche (AVAX)
Layer-1 (L1) coin AVAX is another asset crypto whales are holding for gains in June. This is reflected by the 474% uptick in the coin’s large holders’ netflow in the past seven days.
Large holders are whale addresses that hold more than 0.1% of an asset’s circulating supply. Their netflow tracks the difference between the coins they buy and the amount they sell over a specific period.
When an asset’s large holders’ netflow increases, more of its tokens are flowing into the wallets of these major investors than are flowing out. This trend indicates that AVAX whales are accumulating the asset, signaling confidence in its future value.
AVAX could witness a rebound and surge to $24.28 if whale accumulation continues.
On the other hand, the altcoin’s price could extend its decline to $14.66 if the whales begin to sell for profit.
Quant (QNT)
QNT has defied this week’s broader market downturn, posting 7% gains. The token’s near-10% rally appears to be fueled by renewed investor interest following the launch of Overledger Fusion, a Layer 2.5 network designed to bridge institutions, enterprises, and decentralized finance (DeFi) ecosystems.
It has also driven a surge in whale accumulation, indicated by the 1083% rally in the token’s large holders’ netflow over the past week. This uptick signals growing confidence in QNT’s short-term performance and hints at the likelihood of further rallies as large investors increase their exposure.
Pi Network (PI) has recently faced a challenging period in its price action. After dipping below the $1 mark, the altcoin’s recovery appears to be losing momentum.
Unlike previous rebounds, current market conditions suggest that Pi Network might find it more difficult to regain the $1.00 price level.
Pi Network Is Losing Traction
The Average Directional Index (ADX) currently sits at 32, which is notably above the 25 threshold. This reading indicates that the prevailing trend is gaining strength. In this case, Pi Network’s trend is downward, reinforcing bearish sentiment among traders and investors.
Further evidence of this strengthening downtrend is visible through the Parabolic SAR indicator. The dots are positioned above the candlesticks, a classic signal that the price is likely to continue falling. Such technical indicators often prompt cautious trading behavior and can increase selling pressure.
Pi Network Parabolic SAR and ADX. Source: TradingView
Pi Network’s price has shown a weakening correlation with Bitcoin, currently measured at 0.25 and steadily declining. This low and falling correlation suggests that PI is starting to behave more independently rather than mirroring Bitcoin’s movements.
This decoupling is significant because Bitcoin recently set a new all-time high (ATH) and may continue to rise. However, Pi Network is less likely to capitalize on Bitcoin’s bullish momentum, given its diverging price dynamics.
The falling correlation implies that PI could struggle to follow Bitcoin’s upward trajectory.
Pi Network Correlation With Bitcoin. Source: TradingView
PI Price Aims For A Rally
At its current price of $0.77, Pi Network would need to rise approximately 28% to reach the $1.00 mark again. Given the indicators pointing to a strengthening downtrend and weakening correlation with Bitcoin, this price target seems ambitious in the near term.
Heightened bearishness may erode investor confidence, leading to increased selling. Should the price break below the critical support level of $0.71, Pi could face a further decline, potentially sliding down to $0.61. Such a drop would deepen the bearish outlook.
On the other hand, if broader market conditions improve, Pi Network might break through resistance levels at $0.78 and $0.87. Surpassing these points could invalidate the current bearish thesis and pave the way for a renewed push toward the $1.00 price target.
The Middle East and North Africa (MENA) region is quickly becoming a notable force in the push for global crypto adoption. With growing participation from institutions and enterprises and supportive regulations for Web3 technology, MENA is set to expand its impact.
BeInCrypto interviewed Stephan Apel, CEO of Outlier Ventures, to explore the characteristics of these tech-driven economies and their anticipated innovations.
Web3 Adoption and Market Growth
MENA has emerged as a significant center for Web3 development, facilitated by a combination of demographic, technological, and cultural factors. The region’s entrepreneurial spirit has also fostered an environment conducive to the adoption of decentralized technologies.
“The MENA market has set a standard for adopting next-gen technologies and using them to boost their economic transformation. This is especially true for Web3 technologies— the region recognised their potential early on, offering the resources needed for these projects to scale and thrive on both regional and global levels,” Apel told BeInCrypto.
Consequently, the region is witnessing an increase in startups, investors, and developers exploring Web3 and its diverse applications.
A 2024 Chainalysis report revealed that MENA was the seventh biggest crypto market worldwide. From July 2023 to June 2024, the region saw $338.7 billion in online crypto transactions, representing 7.5% of all crypto transactions globally.
Share of all cryptocurrency transaction value by region. Source: Chainalysis.
Notably, Turkey and Morocco ranked among the top 30 countries globally in crypto adoption. Turkey secured the 11th spot, while Morocco ranked 27th. These nations alone accounted for $137 billion and $12.7 billion in received cryptocurrency value, respectively.
Furthermore, the MENA region’s crypto activity is predominantly driven by institutional and professional players, as a substantial 93% of all value transferred involves transactions exceeding $10,000.
Meanwhile, Gulf Corporation Council (GCC) members have distinguished themselves through their ambitious technological initiatives.
MENA’s Strategic Shift Towards AI
The onset of artificial intelligence (AI) has prompted governments and businesses within the Middle East to acknowledge the global trend towards related advanced technologies. Countries like Qatar, Saudi Arabia, and the United Arab Emirates (UAE) are considering their strategic position concerning this technological transformation.
According to a report by PricewaterhouseCoopers (PwC), AI could contribute up to $15.7 trillion to the global economy in 2030. The consulting firm predicts that the Middle East will bring 2% of the total global benefits, equal to $320 billion.
MENA’s pioneering role in AI development. Source: PwC.
The PwC report also indicates that Saudi Arabia will see the largest absolute gains from AI by 2030, with an estimated US$135.2 billion added to its economy, or 12.4% of GDP. In terms of GDP percentage, however, the UAE is expected to see the greatest impact, approaching 14% of its 2030 GDP. Meanwhile, for GCC states Bahrain, Kuwait, Oman, and Qatar, AI is expected to contribute 8.2% of their GDP.
Given the region’s latest initiatives and investments in AI innovation, these numbers come as no surprise.
Saudi Arabia’s AI Development Initiatives
In 2016, the Saudi Arabian government launched Vision 2030, a program to promote economic, social, and cultural diversification. Integral to this vision is a strategic shift towards artificial intelligence and data-driven innovation, a key component of the nation’s economic diversification efforts.
Saudi Arabia is making notable advancements in AI. The country aims to reduce its reliance on oil by developing advanced technology sectors through targeted investments, infrastructure development, and workforce training.
“Fueled by its Vision 2030 initiative, Saudi Arabia has already created a thriving startup ecosystem, dedicated significant investment in emerging technologies,and designed policies to attract global talent and entrepreneurship,” Apel told BeInCrypto.
The Saudi Data and Artificial Intelligence Authority (SDAIA) spearheads Saudi Arabia’s push into artificial intelligence, shaping and implementing the country’s national data and AI strategy. The National Data Bank is a cornerstone of their efforts. It is designed as a central hub for data access and analysis, facilitating AI applications across public and private sectors.
Last November, Saudi Arabia also unveiled Project Transcendence. The $100 billion investment initiative focuses on accelerating the integration of AI and advanced technologies.
Similar to its neighbor, the UAE has actively pursued AI adoption.
UAE’s AI Strategy and Investments
In 2017, the UAE launched its National Strategy for Artificial Intelligence, which aims to make the country a global leader in the field by 2031. The UAE AI and Blockchain Council oversees this strategy, which impacts sectors like education, energy, and tourism.
The UAE is already reaping the benefits of its AI initiatives. In April, Microsoft announced a $1.5 billion investment in G42, an Abu Dhabi-based technology holding company. G42 is known for its data centers and the development of Jais, a leading Arabic-language AI model.
In September, G42 and Nvidia partnered to create AI-driven solutions for improved weather forecasting. The collaboration aims to advance climate-related technologies by using Nvidia’s Earth-2 platform, which enables AI-augmented climate and weather simulations.
Three months later, Abu Dhabi-based global technological ecosystem Hub71 partnered with Google to boost startup growth in the UAE. This collaboration will bring Google’s “Google for Startups” program to Abu Dhabi, including a dedicated accelerator for Hub71 startups in 2025.
He also drew attention to the planned convergence of AI and Web3 technologies in these prominent regions.
Convergence of AI, Web3, and IoT
Integrating the Internet of Things (IoT), blockchain, and AI technologies is gaining traction among businesses in the Middle East. By combining these technologies, organizations can access new avenues for growth, increase efficiency, and create novel user experiences.
In 2018, the Dubai Airport Freezone Authority launched Dubai Blink, a platform that integrates AI, blockchain, and virtual licenses to facilitate global trade. This system enhances supply chain innovation through ‘smart commerce’ by expediting trade with a unified online platform. Furthermore, it addressed the cumbersome process of supplier identification by using AI algorithms to streamline and accelerate the validation process.
Ultimately, MENA’s proactive approach to technological advancement, coupled with its strategic focus on Web3 and AI, signals a future where the region will be a pivotal architect in shaping the digital economy.
(@CRYPTOAD00) June 8, 2025
