Pi Network is piloting a new automated market maker on its testnet, pairing a token called SLICE against Test-Pi, the ecosystem's trial currency used to stress-test features before they reach mainnet. The project distributed 10 million SLICE test tokens to participants as part of the rollout, giving users a live sandbox to trade against before any real capital is at risk.
The pool works like a standard AMM: pricing shifts dynamically based on the ratio of tokens sitting in the pool, rising when Test-Pi is used to buy SLICE and falling when the reverse happens. According to the mechanism's design, proceeds from Pi's launchpad flow into these token liquidity pools, pairing ecosystem tokens with individual project tokens as they debut.
PI Pushes Back Toward $0.08 Resistance
The liquidity pool test landed as PI itself showed signs of life, climbing 5.8% to reclaim the $0.08 level that has capped the token in recent sessions. Whether that reclaim holds is another question — chart analysis pointed to $0.076 as the next support level if sellers push the price back down through resistance.
Momentum indicators are not fully on board with the bounce. The ADX SMA indicator continued declining even as price rose, while the negative directional index sat elevated at 36, a combination that typically points to underlying weakness rather than strength. A Momentum Adjusted Moving Average reading hovering above spot price added to the case that downward pressure hasn't fully cleared.
On-Chain Data Shows Whales Still Selling
CryptoQuant data cited alongside the price action showed large whale orders remaining elevated over the prior week, even as PI's price recovered ground. The Spot Taker Cumulative Volume Delta stayed in negative territory throughout, a signal typically read as sellers maintaining dominance over buyers in real executed trades rather than just order-book positioning.
Taken together, the combination of a large holder selling into strength and momentum indicators still pointed lower suggests PI's move back toward $0.08 may be more of a relief bounce than a trend reversal, with the SLICE pool test offering a separate, longer-term storyline for the network's ecosystem development independent of near-term price swings.
