Pi Network Token Plummets to $0.33 as Market Cap Drops to $2.6 Billion

Pi Network’s native token, Pi (PI), has plummeted to a new all-time low, triggering growing concerns over its future trajectory. The price dropped to $0.33, the lowest level since its public trading began, with its market capitalization shrinking to approximately $2.6 billion. This decline has pushed PI out of the top 50 largest cryptocurrencies by market cap, a significant setback for a project that once generated considerable excitement among retail investors [1].

The downward spiral began several months ago and has been exacerbated by the recent crypto market correction. Some analysts have warned that further losses may follow if key support levels are breached. A prominent X user noted that if the $0.33 threshold is lost, the price could face intensified bearish pressure. Conversely, maintaining support above this level might lead to accumulation and potentially trigger a rebound to $0.85 [1].

Despite the grim technical outlook, there are still voices of optimism within the Pi community. An influential X user named “open mainnet” has encouraged investors to hold their coins and buy more during favorable price conditions. They have even projected a bullish scenario where PI could reach $100. While such a forecast is ambitious, it would require an unprecedented surge in valuation, pushing the token’s market cap close to $800 billion—surpassing even Bitcoin’s current valuation [1].

A major factor contributing to the bearish sentiment is the upcoming token unlock schedule. Over the next 30 days, nearly 170 million PI tokens are set to be released into the market, with the highest unlock occurring on September 2, when 13.7 million coins will become available. These unlocks increase the circulating supply and introduce additional selling pressure as holders look to capitalize on accumulated tokens [1].

Exchange balances are also a cause for concern. Current data shows that over 416.2 million PI tokens are held on exchanges, with Gate.io accounting for nearly 200 million. The growing presence of PI on trading platforms may indicate an elevated risk of price volatility as more coins become available for trading [1].

Taken together, these developments suggest that Pi Network faces significant challenges in stabilizing its price and regaining market confidence. While the project has attracted a large user base through its social mining model, the lack of institutional backing and limited real-world utility have hindered its broader adoption. The next few weeks will be critical in determining whether the PI token can withstand the current selling pressure or if further declines are on the horizon [1].

Source: [1] Attention Pi Network Users: Here's Why August 21 Is a ... (https://www.facebook.com/groups/3787235508163149/posts/4469262679960425/)