Selling pressure and a breakdown from a falling wedge pattern pushed PI lower on June 3, with the move unfolding amid growing token supply concerns.
Pi Network traded near $0.138 on June 3, leaving the token close to its historical bottom after sellers drove a breakdown from a falling wedge pattern (a chart formation traders watch for reversals). The move reflected continued selling pressure and came as growing supply concerns weighed on sentiment, according to data cited from crypto.news. The report indicates PI was already down by that date, though the excerpt does not include a fuller percentage change or broader market figures. The setup matters because technical breakdowns can reinforce bearish momentum when they coincide with fears of additional tokens entering circulation.