Pi Network (PI) Price Analysis: Sharp Downturn Stalls Enthusiasm, Valuation Drops 20% to $7.7B

Pi Network debuted with immense enthusiasm, quickly securing its place among the top cryptocurrencies by market capitalization. At its peak, the project soared to a $10 billion valuation, ranking among the top ten.

Pi Network has seen a sharp decline in price, now valued at around $7.7 billion. This marks a 20% drop in a single day, a 30% fall over the past week, and a 33% plunge over the last month.

The steep decline in Pi Network’s price has sparked concerns among investors and cryptocurrency enthusiasts. After reaching a peak valuation of $10 billion and securing a spot among the top ten cryptocurrencies by market capitalization, the project has experienced a downturn.

At its peak, Pi Network was valued at $10 billion, ranking among the top ten cryptocurrencies. However, the project has since seen a sharp decline in price.

The project’s main token, PI, dropped by 20% in a single day, reaching $0.92. This follows a 30% decline over the past week and a 33% fall over the last month.

The project’s price is now at $0.92, a significant drop from its recent highs. At its peak, the project was valued at $10 billion and ranked among the top ten cryptocurrencies.

However, the project has seen a downturn in recent months, with its price falling sharply. This can be attributed to a number of factors, including the broader cryptocurrency market downturn, a lack of engagement with Pi Network’s social media platform, and the project’s token supply model.

Pi Network is a decentralized social media platform where users can mine Pi tokens using their mobile devices. The network relies on user participation to sustain its node system.

Despite its novel approach, Pi Network’s lack of engagement and practical utility make it less appealing than established social platforms. Moreover, while mobile mining is a key attraction, its long-term viability remains uncertain.

However, a major issue lies in Pi Network’s token supply distribution. Currently, only 6.8 billion Pi tokens are in circulation, while the total supply is 100 billion.

With just 6.88% of tokens available, this artificial scarcity inflates the market cap and price. But as more tokens enter circulation, the increased supply could weaken demand, accelerating price declines.

If fully diluted, Pi Network’s valuation would exceed $100 billion—an unrealistic figure given its current market trajectory.

This ongoing downtrend has led traders to seek opportunities in short positions, aiming to benefit from the asset’s weakening momentum.

With exchanges like OKX, Gate.io, and MEXC offering perpetual trading for Pi Network, a temporary pullback could provide an ideal entry point for shorts at key resistance levels of $1.14, $1.23, and $1.30.

The broader outlook for Pi Network sparks concerns, as its price movement mirrors patterns seen in past projects with flawed market structures. Internet Computer (ICP) serves as a notable example, having experienced a rapid surge at launch followed by prolonged decline.

If Pi follows a similar trajectory, further losses seem likely, deepening doubts about its long-term potential.

As Pi continues to struggle, investors are looking for new opportunities, and one presale token is emerging as a potential top investment.