The price of Pi Network's native token, PI, remains trapped in a tight consolidation range between $0.20 and $0.22, showing no positive reaction to a significant regulatory development or internal project updates. This stagnation persists even as the broader cryptocurrency market, led by Bitcoin's surge toward $98,000, has shown signs of recovery in early 2026.
A key regulatory step was achieved as the European Securities and Markets Authority (ESMA) registered the Pi Network white paper under entry number 549, filed by PiBit Ltd. This registration grants Pi Network a legal foothold within the European Union, signaling compliance with initial EU rules. However, it is not a full authorization under the Markets in Crypto-Assets (MiCA) framework. The project must still pass rigorous audits and meet standards for anti-money laundering, data protection, and financial reporting to achieve full MiCA compliance.
Despite this regulatory nod, which could pave the way for future EU partnerships, PI's price action remains bearish. Trading volume has plummeted 33% in the last 24 hours, with only about $1 million worth of PI entering circulation daily via mainnet migrations and token unlocks. The token trades over 90% below its all-time high.
An analysis solicited from ChatGPT identifies three core challenges suppressing PI's price. First, a significant supply overhang is crushing momentum. Data from PiScanUnlock indicates an average of over 4.5 million tokens will become unlocked and transferable in the next 30 days, creating persistent selling pressure from early participants. Second, PI suffers from a lack of external capital inflows, remaining isolated from the capital rotation fueling other altcoin rallies. Third, ecosystem growth has not translated into tangible price gains.
The AI model outlined three potential catalysts needed for a breakout: a clear, large-scale use case creating real demand (such as major merchant adoption); liquidity expansion from outside the core PI community; and a supply narrative shift via mechanisms like slower unlock schedules, long-term lock incentives, or deflationary token burns.
