The token is down about 30% this month, more than 60% in 2026 and 97% from its February 2025 peak, with social media debate focusing on selling pressure and token unlocks.
PI, the native token of Pi Network, fell 17% on Monday and briefly touched a record low of $0.0785 as reports circulated that the project’s “pioneers” were selling the asset. The drop extended a broader slide that has erased about 30% of PI’s value since the start of the month and nearly 40% over the last 30 days. Coingecko data shows PI has lost more than 60% since the start of 2026, underperforming even as bitcoin and ether have also posted steep declines of about 30% and 40%, respectively, this year. Since reaching an all-time high of $2.99 in February 2025, PI has dropped 97%. The latest selloff pushed PI’s market capitalization down to $880 million and revived questions about the project’s outlook. Some supporters on X continued to argue the network has long-term upside, citing apps and utilities still under development, while critics pointed to a pattern in which PI rises more slowly than Bitcoin during market gains but falls faster during broader crypto weakness. One X user, Dr Altcoin, said Pi Network may need either listings on Tier 1 exchanges (largest global crypto trading venues) such as Binance and Coinbase or a buyback-and-burn mechanism (repurchasing and permanently removing tokens) to help absorb millions of unlocked PI that could enter the market.