Key Insights
- Pi Network (PI) hit a fresh all-time low below $0.12, with data showing a trough around $0.1263 amid a broader crypto market sell-off.
- The token erased its post-Kraken listing rally, reversing gains that had pushed it to about $0.30 in mid-March before a sustained downtrend took hold.
- Key support levels failed one after another, including $0.20 and $0.15, accelerating downside momentum and pushing PI further into price discovery on the downside.
Pi Network’s PI coin slid to a new all-time low below $0.12 as selling pressure intensified across the broader crypto market.
The move erased a large part of its earlier rally in March, when the token had climbed close to $0.30 after a brief burst of momentum. That recovery has now fully unwound.
Data from CoinMarketCap shows Pi coin briefly touching around $0.1263, marking its weakest level on record.
In a single day, the drop erased the rally that had followed a major exchange listing, and left PI’s market capitalization under roughly $1.36 billion.
Bitcoin and other major cryptocurrencies also fell during the same period, adding pressure across the market.
Kraken Listing Rally Reverses for Pi Network
Pi Network’s price spike in March quickly unraveled. On March 13, Kraken announced it would list PI, and the token jumped roughly 30% that day.
PI coin was trading around $0.29 by Pi Day, up from about $0.21 earlier that month. Those gains were driven by the new spot market access and annual Pi Day excitement.
Since then, however, Pi Network’s bullish momentum has vanished as the market turned. In recent weeks, the PI coin price broke support one level after another. By late May, it was near $0.15. This week, PI fell below the $0.20 and then the $0.15 marks.
Each breach fueled further selling. Technical charts now show the token sliding toward new lows. CoinGecko data confirms the all-time low at $0.1263 and a market cap of about $1.36 billion, placing Pi Network around rank #58 in the crypto market size. In effect, Pi coin is in full price discovery on the downside.
Crypto Market Sell-Off Adds Pressure to Pi Coin
Pi Network’s decline came during a weaker phase across the crypto market. Bitcoin and large-cap cryptocurrencies also moved lower during the same period. That coincided with renewed selling across altcoins, including PI.
The cascade in major markets left projects like Pi Network especially vulnerable. In short, PI’s decline partly reflects the volatility and correlation of “Bitcoin-backed” yield products in a market swoon.
Investors and analysts are split on Pi Network’s path forward. Some traders warn the slump is a sign to be cautious, noting the token could test new lows around $0.10 if selling continues.
Others see a buying opportunity: in social media channels, one commentator urged patience and an outlook for the next bull cycle, suggesting this dip may be a “buy-the-dip” scenario for long-term believers.
Across the debate, even supporters concede that such a sharp move is a reality check. As one community post put it, the PI coin price plunge has become “a reason to panic for some,” while others urge focusing on fundamentals and whether the network can “thrive” despite market turmoil.
Pi Network now faces the task of regaining footing at a much lower level. If Bitcoin and crypto markets stabilize, Pi Network may recover some losses; if not, the token could move into uncharted support territory.
