Pi Network Price Extends Sharp Downtrend This Week
The Pi Network token has experienced a significant decline, approaching a new all-time low of approximately $0.23. Although there was a short-lived increase to $0.24, the monthly chart indicates a notable 30 percent drop from previous levels.
This decline represents an astonishing 90 percent drop from February’s peak of $3, indicating sustained bearish momentum. The decline is notable as Bitcoin and Binance Coin reach new record highs during October’s typically bullish “Uptober” phase.
Market Capitalization Plunges Below Two Billion Dollars
The market capitalization of Pi Network has dropped below $2 billion, ranking the token 74th in total valuation among all cryptocurrencies. Earlier this year, Pi momentarily entered the ranks of crypto’s top 20 after exceeding a $13 billion market cap.
The swift rise has now completely turned around as liquidity has exited the ecosystem. The market is experiencing a decline in buyer activity, leading to heightened price fluctuations and a prevailing sense of downward pressure in trading sentiment.
Community Frustration Grows Amid Stalled Development
A number of Pi Network supporters have voiced their dissatisfaction regarding the project’s absence of significant advancements following the launch of the Open Mainnet. Some critics contend that the team has not yet rolled out significant updates or features for decentralized governance.
Certain community leaders assert that the control of the network is concentrated in the hands of just two individuals, which restricts both transparency and innovation. The sense of stagnation has heightened concerns regarding the project’s future trajectory and its credibility.
Recommended Article: Pi Network Defends Key Support as Uptober Boosts Bullish Hopes
Analysts Cite Poor Demand and On-Chain Usage Decline
Recent months have seen a significant decline in on-chain activity, indicating a drop in network participation from both users and developers. Independent trackers reveal that transaction growth is minimal and wallet engagement is on the decline throughout the ecosystem.
A notable X user captured the market sentiment succinctly, stating, “Demand is significantly low, and the on-chain usage of PI is lacking.” This feeling reflects the common annoyance experienced by holders dealing with significant unrealized losses.
Pi Network RSI Drops to 24, Signaling Oversold Conditions and Possible Price Rebound
Even with ongoing bearish momentum, certain indicators hint at the potential for a short-term rebound. The Relative Strength Index for Pi has recently dropped to 24, entering oversold territory that frequently signals potential technical recovery efforts.
A reading of RSI below 30 usually indicates that there has been significant selling pressure over a short period. This situation may result in a brief stabilization of prices if opportunistic buyers take advantage of the short-term fluctuations.
Token Unlocks Decline As Supply Pressure Eases Slightly
Recent blockchain data indicates that the upcoming token unlocks are notably smaller compared to previous cycles. Less than 120 million PI are set to be released in the upcoming 30 days, alleviating overall supply-side pressure.
Furthermore, around 2.5 million PI have been removed from exchanges and transferred to private wallets in the past 24 hours. This kind of movement usually indicates a reduction in sell pressure and a strengthening short-term liquidity profile.
Pi Network Faces Key Test as Developers Work to Rebuild Investor Trust and Utility
The future of Pi Network depends on the ability of developers to reignite ecosystem engagement and rebuild trust among investors. Unless there is significant advancement in decentralization and utility, negative sentiment could continue well into the fourth quarter of 2025.
Despite smaller token unlocks and oversold technical indicators, traders are keenly observing for any indications of an early reversal. A lasting recovery will demand not just hope but also tangible milestones that demonstrate Pi’s ecosystem continues to offer potential.
