The price of Pi Network (PI) is down 5%, extending a reversal from its 50-day Exponential Moving Average (EMA). The decline is linked to a major loss of buying momentum after a Pi Network moderator dismissed rumors about the project's potential compliance with the ISO 20022 global financial messaging standard.
Key Factors Driving the Decline
- Rumor Debunked: Last week, a Stellar-based wallet company, Lumexo, announced that Pi Network was nearing ISO 20022 compliance, fueling buying pressure. However, a moderator on the official r/PiNetwork forum on X issued a strongly dismissive statement, clarifying that the rumor did not come from the Pi Core Team and was likely based on misunderstandings.
- Social Interest Plummets: Following the moderator's clarification, social engagement around PI dropped sharply. Santiment data shows social dominance and social volume decreased significantly (social dominance fell from 0.186% to 0.025%), suggesting a rapid decline in trader interest and buying momentum.
- Technical Breakdown:The PI token's technical structure looks bearish:
- The reversal from the 50-day EMA risks a price correction.
- The immediate downside target is the $0.1919 support level (the October 11 low).
- If that level fails, the last line of defense is the $0.1533 low.
- Momentum indicators (RSI and MACD) are flattening or reversing, confirming the decline in buying pressure and warning of potential renewed selling.
In summary, the clearing of the ISO 20022 rumor, combined with low social interest and weakening technical indicators, signals a potential extended correctional phase for the Pi Network token.
November 2025, Cryptoniteuae