Pi crypto price continued its freefall this week, reaching its lowest level since February.
Summary
- Pi token has dropped over 86% from its all-time high, hitting $0.40 amid oversupply and weak demand.
- Limited exchange listings and failed developer initiatives have hurt adoption, even during the broader crypto bull run.
- A double-bottom pattern suggests a possible 324% rebound if a Tier-1 exchange listing sparks a short squeeze.
Pi Network (PI) token plunged to a low of $0.400 on Friday, down by over 86% from its all-time high.
The token has plummeted due to its oversupply and lack of demand among investors. Its circulating supply has jumped to over 7.76 million, with the network unlocking millions of tokens a month.
At the same time, daily volume has consistently remained below $100 million—a sign that demand is waning. The lack of demand is partly due to the token being listed on only a handful of exchanges such as OKX, Bitget, and MEXC.
As a result, users of major exchanges like Binance, Upbit, and Coinbase have no access to it.
All actions taken by developers since the mainnet launch have failed to stimulate investor demand. Notable initiatives include the launch of the $100 million Pi Network Ventures, .pi domain auctions, directory staking, and Pi AI Studio.
Most importantly, Pi coin value price continued to fall even as the crypto bull run happened in July. It was one of the few top 100 coins to fall when Bitcoin (BTC) surged to a record high.
Historical data shows that only a Tier-1 exchange listing may trigger a short squeeze. Some of the most notable exchanges that could drive a double- or triple-digit surge include Binance, Upbit, and Coinbase.
For example, OMNI price surged by over 100% after its Upbit listing this week, while Orca soared by over 200% and ARKM by 55%. As a more popular cryptocurrency, Pi would have more gains.
Pi crypto value price analysis
Technical indicators suggest conditions may be ripe for a Pi short squeeze. The token has formed a giant double-bottom pattern at $0.4016 with a neckline at $1.6728. A double bottom typically signals a strong bullish breakout.
Pi also appears to be in the accumulation phase of the Wyckoff Theory, which may precede the markup phase, where an asset rises sharply. If this pattern plays out, Pi could surge to the neckline target of $1.6728, representing a potential 324% gain from current levels.
