Pi Network Price Faces Extinction Below $0.10 Amid Bearish Sentiment

The Pi Network price has been struggling due to weak retail demand and a bear flag pattern that suggests it may drop below the psychological support level of $0.10.

The upcoming Protocol 25 upgrade, set for June 18, may not be enough to spark gains in the cryptocurrency market, which is currently in an 'extreme fear' sentiment.

The Pi Network price has been falling, with a 1.1% drop on June 11 to trade at $0.124, and trading volumes of $7 million per CoinGecko.

Despite ongoing upgrades, the network's open interest has fallen to $18.25 million for the first time since March 4, indicating that futures traders are shying away from opening new positions on PI.