Pi has shed close to 30% over the past month, while Bitcoin, Ethereum, and XRP have been holding their ground or even rallying. According to the market data, Pi Network is currently trading around $0.167, slipping 1.77% in the last 24 hours. The token still carries a market cap of around $1.7 billion with a circulating supply of 9.01 billion Pi.
1. The community is frustrated — and they’re selling
This is the big one. Scroll through any Pi Network discussion, and you’ll find a wave of complaints. Slow development, unresolved issues, promises that feel like they’re taking forever to materialise. That frustration is translating directly into selling pressure.
One analyst said it isn’t a market-wide crash pulling Pi down; it’s Pi’s own community losing patience. When the people who believed in you the most start hitting the sell button, that’s a serious red flag.
2. Too many tokens, not enough buyers
Daily token unlocks keep adding fresh PI supply into the market every single day. Meanwhile, demand hasn’t shown up to match it. That’s just basic economics: more supply with weak demand equals a price going down.
Another community user flagged this combination as a “tough combo to fight,” with $0.16 becoming the key level to watch for any buyer reaction.
3. Token migration is adding extra selling pressure
On top of the unlocks, renewed token migration activity is pushing even more Pi onto exchanges. Holders migrating their mined tokens are creating an additional wave of selling that the market is struggling to absorb right now.
Pi is currently trading at $0.16, sitting on the same $0.165 to $0.170 demand zone that launched the March rally before the token pulled back from $0.30. Price has been compressing in this zone for weeks without breaking lower, which analysts say keeps the structure intact.
If the zone holds, the chart points toward $0.2758 as the primary target, a move of roughly 65% from current levels. The path there requires clearing resistance at $0.170, then $0.200 to $0.210 before reaching the final target. If $0.160 breaks on a daily close, however, the demand zone fails, and the February lows below $0.130 come back into play.
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