Pi Network Price Plummets: Here's Why Its Value Fell

Bittime - The price of Pi Network (PI) has fallen sharply by more than 90% from its peak, sparking widespread concern among crypto investors. This raises the big question: why did the price of Pi Network fall so sharply?

In fact, this project became a global phenomenon with millions of users mining Pi directly from their mobile phones without incurring high electricity costs. 

However, the reality in the market shows that Pi's value is now far below initial expectations, while community sentiment and market liquidity continue to decline.

Current Price Trends and Fall Scale

Pi Network once recorded a high price of nearly US$2.99, but has now fallen to around US$0.20–US$0.25, a drop of more than 90% from its peak. 

Data from CoinGecko and Bankless Times shows that Pi's market capitalization has also declined dramatically, with daily trading volumes becoming increasingly thin.

This phenomenon signals that investor interest in Pi is beginning to wane, especially after the absence of significant movement in the development of the main network (mainnet). 

In various crypto forums, many users have begun to question the direction of this project, wondering whether Pi Network still has prospects or is just a temporary hype during the pandemic.

Read Also: Pi Network: Easy Guide to Selling Pi Coins, How to Withdraw, and Cash Out

The Main Cause of Pi Network's Price Drop

Several fundamental factors are believed to be the cause of the decline in the value of Pi Network:

1. Massive token unlocking.

2. Lack of utility and real adoption.

3. Limited liquidity.

4. Sales by large holders.

5. Decline in public trust.

Read also: BANXA Buys 30.5 Million Pi Coins, What Does It Mean?

The Impact of the Fall on the Pi Network Ecosystem

The decline in the price of Pi Network has had a ripple effect on the entire ecosystem. Many early users (pioneers) who were once actively mining have now stopped participating because the rewards are not worth the time spent.

In addition, small projects built on the Pi network are also losing momentum. Investors who initially hoped that Pi would become a user-friendly cryptocurrency are now looking for other alternatives. 

This price decline has also impacted the project's reputation in the global crypto industry, with some analysts beginning to refer to Pi as a "ghost chain" – a network that is operational but has minimal activity and utility.

Current Pi Network Price

Based on the latest data, the price of Pi Network (PI) is currently around $0.2708, up about 21.45% in the last 24 hours. 

This surge was driven by an increase in daily trading volume, which reached $100.19 million, a jump of nearly 979% compared to the previous day. 

The current market capitalization is around $2.24 billion, with a total supply of 100 billion PI and a circulation of around 8.28 billion PI.

From a technical perspective, the chart shows a long green candle, indicating strong buying pressure after a long period of consolidation at the $0.22–$0.23 level. 

This area is now an important support level, while the nearest resistance is around $0.30. 

If the price breaks through that level with high volume, the potential for an increase to $0.35–$0.40 is quite high. However, if momentum weakens, the price could correct back to around $0.24–$0.25 to test the new support level.

Overall, short-term trends in the PMI indicate a shift towards moderate bullishness, although the medium-term outlook remains in a recovery phase following prolonged selling pressure since the previous quarter.

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Can Pi Network Still Recover?

Technically, there is still a chance for price recovery, but it will require significant changes. Some analysts have noted the potential for a bullish divergence or the formation of a falling wedge pattern on the Pi chart, which in theory could trigger a short-term rebound.

However, long-term recovery depends on fundamental factors: increased token utility, a decrease in active supply, and clarity on the listing schedule on major exchanges. Without these concrete steps, price increases will only be temporary and easily reversed.

In addition, clarity of direction from the main development team will be key. Without transparency and good communication, efforts to rebuild public trust will be difficult.

Conclusion

The decline in Pi Network's price is not just a normal market correction, but a reflection of the project's weak structure and excessive supply pressure. Lack of utility, limited liquidity, and the release of large amounts of tokens have combined to push the price to its lowest point.

To recover, Pi Network needs to rebuild community trust through concrete actions: opening access to trading on major exchanges, creating a functioning ecosystem, and ensuring more transparent token distribution. 

Without these measures, Pi risks remaining stagnant in the lower zone and losing its relevance in the global crypto market.

FAQ

What is the main cause of the decline in Pi Network prices?

The price of Pi Network fell due to a combination of excess token supply, minimal utility, and low liquidity. Psychological factors such as loss of public trust also contributed to worsening market conditions.

Is the Pi Network project still active?

Yes, the Pi project is still technically active, but activity on its network is relatively low. Some internal updates have been made, but they have not been significant enough to drive up the price.

Is the Pi Network core team selling tokens in large quantities?

Several crypto media reports have stated that the core team and major holders are selling off some of their tokens. Although this has not been officially confirmed, it reinforces the selling pressure in the market.

Can the price of Pi Network return to the level of US$2 or more?

It is highly unlikely that Pi will return to its peak price in the near future, unless there are major changes such as the launch of a public mainnet, increased adoption, and listing on major exchanges.

What steps can Pi investors take now?

Investors need to monitor project developments, understand liquidity risks, and avoid excessive expectations. Diversifying assets is a wise move in uncertain conditions such as these.

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