Key Highlights
- PI has fallen about 8% to $0.08253 as rising trading activity points to stronger selling pressure in the market.
- The token has dropped back below the $1 billion market cap after failing to maintain its recent recovery above the key $0.10 level.
- PI could retest its $0.07036 all-time low if the price falls below the important $0.0800 support level.
Pi Network’s native token PI has fallen nearly 8% in the last 24 hours, dropping from an intraday high of $0.089 to around $0.08253 as sellers continue to push the market further below.
According to data from CoinMarketCap, its trading activity has surged by about 34% over the same 24-hour period to around $14.08 million.
However, the increase in activity came as the token’s price fell, suggesting that the higher volume was mainly caused by selling. PI’s market capitalization also dropped by about 7% to roughly $903 million.
PI falls back below $1 billion market cap
This decline is a setback for the token because it had just recently recovered above the $1 billion market capitalization level after a week-long recovery. At the time, the token also climbed more than 40% from its all-time low of $0.07036 to around $0.10072.
That recovery gained strength after the v25 protocol upgrade helped bring fresh attention to the token. PI gained about 11% in the days following the upgrade and, at one point, became one of the strongest performers in the market. However, this recovery didn’t last long as traders started taking their profits quickly.
Now, PI is struggling to break above the $0.10 level. After trying for several hours to move past the resistance, the token was rejected and began losing momentum. It later fell below an ascending trendline that had formed from its all-time low, giving sellers more control over the market.
The wider crypto market also turns red
Moreover, the wider market also added to the fall. Bitcoin, the largest cryptocurrency in the market, also suffered a loss of about 1.77%. But while most major cryptocurrencies have traded slightly lower over the past 24 hours, PI has suffered a much bigger drop.
Token unlocks could add more selling pressure
Meanwhile, upcoming token unlocks are another factor adding to the sell momentum. According to Piscan, Pi Network is expected to unlock 775.8 million PI tokens in the months leading up to the end of 2026.
When more tokens become available, the amount of PI that can be sold in the market also increases. This could improve liquidity and support more trading, but it may also add pressure if new buyers are not strong enough to absorb the extra supply.
PI is now close to retesting its all-time low
On the daily chart, PI’s trend is still bearish as before, while its shorter-term hourly trend has also turned negative. The MACD is showing stronger downward momentum, and the RSI has fallen to 34, which is almost reaching an oversold territory.
But this could leave room for buyers to enter the market for the short term if the sellers begin to slow down. However, this drop has exposed PI back to its recent all-time low of $0.07036. To show that the recovery is returning, PI would need to regain its broken trendline and eventually break back above $0.10.
The latest move also follows a pattern that has appeared repeatedly over the past year. PI suffers a sharp drop to a new low, stages a strong recovery, fails to break through a key resistance level, and then falls again.
The new sell-off has now put the token’s recent recovery under serious pressure and could lead to another test of its record low.
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