After recovering from a July 14 low and briefly reclaiming a $1 billion market value, PI failed to sustain a move above $0.10 following Pi Network’s July 22 upgrade.
Pi Network activated Protocol v25 on July 22, but the upgrade did not produce a sustained breakout in PI. The token had recovered more than 30% from its July 14 all-time low near $0.0707, gained about 19% over the past week, briefly moved above $0.10, and helped lift its market capitalization back above $1 billion after seven consecutive days below that level. At the time of writing before the launch, PI traded near $0.093, implying a market value of about $1.01 billion on a circulating supply of 10.94 billion tokens, with 24-hour trading volume near $19.3 million. After the launch, momentum faded and PI stalled below $0.10, with token unlocks and a broader market downtrend continuing to weigh on price action despite the protocol-related catalyst.