In a move that has sparked renewed interest across the crypto community, Silicon Valley-based venture capital firm Ulu Ventures has officially listed Pi Network among its portfolio companies. This endorsement arrives at a pivotal moment for the project, as its native token, PI, continues to grapple with intense selling pressure and trades near historic lows.
Despite the bearish sentiment surrounding PI’s price action, Ulu Ventures’ public backing signals a long-term vote of confidence in Pi Network’s vision and potential. The firm, known for its early-stage investments in high-growth technology startups, initially joined Pi Network’s seed round in 2023 alongside 137 Ventures and Designer Fund. Its decision to formally recognize Pi Network as a portfolio company now suggests a reaffirmation of its belief in the project’s fundamentals—even as market conditions remain fragile.
At the time of writing, PI is trading around $0.35, hovering just above its all-time low of $0.335. Over the past month, the token has shed more than 22% of its value, with technical indicators pointing to continued weakness. The Relative Strength Index (RSI) remains below the neutral threshold, while capital outflows persist, as evidenced by the Chaikin Money Flow and accumulation/distribution metrics. Exchange balances have surged to over $414 million, indicating that many holders may be preparing to liquidate their positions.
Yet, amidst this turbulence, there are glimmers of hope. On the daily chart, PI appears to be consolidating within a descending wedge pattern—a formation often associated with potential bullish reversals. Bollinger Bands show tightening volatility, suggesting that a decisive move could be imminent. If buyers manage to defend the critical support zone between $0.33 and $0.34, analysts believe a breakout could target the $0.42 to $0.45 range in the short term.
For Pi Network’s global community of users, known as Pioneers, the institutional backing from Ulu Ventures offers more than just financial validation. It serves as a psychological anchor during a period of uncertainty, reinforcing the belief that the project’s long-term goals—such as building a decentralized, mobile-first blockchain ecosystem—remain intact. The recent launch of the Pi Network Hackathon, aimed at expanding utility and developer engagement, further underscores the team’s commitment to growth and innovation.
However, the road ahead is far from guaranteed. The crypto market remains highly sensitive to macroeconomic shifts, regulatory developments, and investor sentiment. Pi Network must now translate its institutional support into tangible progress—be it through mainnet migration, increased utility, or broader adoption—to regain momentum and restore investor confidence.
In conclusion, while Ulu Ventures’ endorsement provides a much-needed boost to Pi Network’s credibility, the project faces a critical juncture. The coming weeks will likely determine whether PI can break free from its downward trajectory or succumb to further declines. For now, the market watches closely, as Pi Network attempts to turn institutional faith into a sustainable recovery.