Pi Network's native token, PI, is trading dangerously close to its all-time low, dropping 9% in the past 24 hours to around $0.075 after briefly dipping below $0.074. The decline extends a broader weekly loss of roughly 19%, driven by intensifying selling pressure and waning market confidence.
The token failed to sustain a recovery toward $0.10 earlier in the month and subsequently lost the critical $0.08 support level. Now hovering just above its record low near $0.0700, PI faces a potential fresh nadir if buyers do not step in. The wider crypto environment has also weakened, with $604 million in total liquidations—$531 million from long positions—and the Crypto Fear & Greed Index slipping to 34, indicating growing trader caution.
Futures market activity has retreated sharply: open interest in PI fell to $7.94 million from $12.14 million on July 15, reflecting a sharp reduction in leveraged bets. Ben, co-founder of BSCNew, described sentiment as "washed out," noting that despite protocol upgrades and a redesigned mining app in July, price action ignored all developments.
Adding to the negative backdrop, a widely circulated thread criticized PI’s tokenomics, highlighting a 100 billion total supply and a 20 billion core team allocation. The analysis warned that without a burn mechanism, PI could slide to $0.01. So far, the Pi Core Team has not publicly addressed the concerns.
Meanwhile, Pi Network Ventures participated in a $12 million seed round for Axis Robotics, marking the ecosystem’s first major physical AI infrastructure investment. However, the news failed to buoy PI’s price, which remains pinned near the lower Bollinger Band at $0.07003. Every major exponential moving average slopes downward above current levels, reinforcing the bearish technical picture.
