Pi Network’s native cryptocurrency, PI, has recently experienced a significant decline in value, dropping to approximately $0.68. This decrease represents a 74% decline from its all-time high of $2.98 in February 2025.
Major Token Unlock Ahead
A major contributing factor to this downturn is the upcoming unlocking of over 124 million PI tokens this month, with projections indicating a total of 1.6 billion tokens to be unlocked over the next year. Besides, PI trading activity is also slowing down, indicating that investor excitement is fading fast.
The Pi Core team recently announced that the inaugural PiFest on the Open Network achieved record participation, with over 125,000 registered sellers, more than 58,000 active sellers, and 1.8 million Pioneers engaging with the Map of Pi, highlighting Pi’s real-world utility on a global scale.
Community Members Demand New Leadership
However, this announcement has not been well-received by the community. Dr. Altcoin remarked that since the commencement of PiFest, trading activity within the Pi ecosystem has significantly declined, with the only transactions involving the sale of Pi for cash.
He also criticized the Pi co-founders, suggesting that they appear disconnected from the practical realities and concerns of the broader Pi community. Community members are unhappy with the Pi Core Team’s updates and are demanding more transparency and fresh leadership with real crypto expertise. They want updates that spark interest, not just the boring routine reports.
Pi Network’s Mining Rate Drops By Over 1%
Notably, the Pi Network’s mining rate has dropped by 1.18% this month, now at 0.0029030 π per hour. This continues a trend of gradual mining rate reductions. While there were hopes of Pi listing on major exchanges like Binance and Coinbase, it hasn’t materialised yet. While the BTCC exchange did add Pi for spot trading, it has not boosted the coin’s price.
Over the past seven days, the Pi coin price has tanked by 20%, with the next crucial support levels at $0.60. Furthermore, the correction under $0.70 comes with heavy selling pressure as daily trading volumes tanked 52% to $148 million.
Pi Network is currently forming a classic falling wedge pattern, testing the lower boundary near $0.687. A confirmed breakout with volume above the $0.71–$0.72 range could signal a bullish move, potentially pushing the price toward $0.75–$0.78, where key resistance levels lie.
In a recent X post, Dr. Altcoin stated that Pi’s price could continue to decline toward $0.60 until April 7 unless the Pi Team takes substantial action to reduce the 6.78 billion circulating supply through token burns.
Pi Network’s Growing Inflation Concerns
Pi Network is becoming one of the most inflationary cryptocurrencies, and this trend might continue. With a max supply of 100 billion Pi coins and only 6.7 billion currently in circulation, token unlocks are increasing the number of coins in the market.
While some cryptos tackle this by burning tokens to reduce supply, it’s unclear if Pi has plans for such a strategy. Options could include burning tokens not moved to the mainnet by June or using ecosystem fees for token burns.
Nicolas Kokkalis, Pi’s co-founder, is likely to address these issues in the project’s first X Space. He is expected to discuss Pi Network’s future plans, including the roadmap and upcoming features.
