Pi (PI) token drops 77% from its February peak to below $0.70, despite PiFest 2025 showcasing real-world usage.

The Pi Network's Pi token has plunged below the $0.70 mark, now just a few cents shy of its all-time low of $0.6152. This sharp decline comes after the token lost 77% of its value

The Pi Network’s native token, Pi (PI), has slid below the $0.70 threshold, now just a few cents away from reaching its all-time low of $0.6152, hit earlier this year.

The token has lost a staggering 77% of its value since cresting at $2.98 in February, a peak reached as Bitcoin (BTC) was in the midst of a price discovery phase, ultimately setting an all-time high above $85,000. Meanwhile, Ethereum (ETH) sustained itself above the $1,850 mark throughout February.

But as broader cryptocurrency markets have displayed strength recently, with Bitcoin's price setting an impressive 2024 high and Ethereum’s "Merge" delivering promising results, Pi appears to be defying the bullish tide.

The surprising drop comes after the recent conclusion of PiFest 2025, the first-ever global commerce event powered by the Pi Open Network.

Despite record-breaking participation, with over 125,000 registered sellers and 58,000 active merchants participating in the event, and more than 1.8 million Pioneers engaging in transactions on a daily basis using their Pi Wallets as cafes, boutiques, auto shops, and local services accepted Pi at the event, the token's value has continued to slide.

Why Is Pi Coin Price Struggling?

According to cryptocurrency analysts, the sustained downward pressure on PI's price may be attributed to investor uncertainty. Despite the success of PiFest 2025 in showcasing the expanding scope of the Pi ecosystem, with an increasing number of use cases being developed, and the integration of the token in diverse sectors, the market seems to be exhibiting caution.

This caution is fueled by several factors, including limited liquidity in the Pi token market and ongoing concerns among investors regarding the token's long-term utility. Investors are keen to see how Pi will generate sustainable value in the broader cryptocurrency ecosystem.

Moreover, the lack of regular updates from the Pi Network leadership regarding the network’s financial health, strategic roadmap, and upcoming milestones could be contributing to skepticism among traders. While the event showcased Pi's role in local commerce, it seems that translating this into sustained price growth has proven challenging.

The Road Ahead

However, despite the current downturn, the leadership at the Pi Network remains optimistic. The successful execution of PiFest 2025 underscores the potential of the Pi token for real-world applications, with businesses from around the world now participating in the network.

As the Pi Network continues to expand its footprint and develop new use cases for the token, many investors are maintaining their optimism. They are hopeful that as the network's ecosystem grows, it will be reflected in the token's price performance.

But for now, the question remains: Can Pi regain its footing in a market largely displaying bullish sentiments, or is this just the beginning of a longer correction phase for the token as it encounters headwinds in a competitive cryptocurrency landscape? Only time will tell which way the token trends next.