Pi Network’s native token, PI, has seen a bumpy ride since its mainnet launch, having reached a peak price of $2.99 in February 2025 But since then, the price has dropped about 78% and currently trading at $0.60, at the time of writing. One big reason for this fall is the release of many new tokens into the market.
Data shows that more than 40 million PI tokens, worth around $215 million at current prices, are set to unlock by July 1, 2025. Before that, smaller batches of 10 million and 12 million tokens were also unlocked. When lots of tokens enter the market at once, it puts pressure on the price and can make it go down. This is part of Pi’s planned token release schedule.
Despite these price drops, Pi Network still had a strong market value of about $4.69 billion. The daily trading volume also dropped a bit to roughly $61 million. Compared to Bitcoin, which had a steadier fall, Pi’s price fell harder. But interestingly, social media chatter around Pi grew a little during this time, showing the project still catches the eye of many crypto fans and small investors despite the ups and downs.
Technical Issues and User Frustrations
Another reason for this price drop could factor in the fact that as Pi Network moved to its mainnet, many users ran into problems. Even after passing KYC checks, a lot of people found their wallets empty. Some couldn’t access their accounts at all. The new “Horizon” update was meant to be a fresh start. But instead, it caused bugs, delays, and blocked many migrations.
Users reported missing token balances and errors in the Pi Browser app. Two-factor logins also failed for many. Migration queues moved slowly, and updates from the team were unclear. People waited for weeks with no answers.
A user on X revealed that he had already completed the process back in 2019, however, in the second migration wave he was unable to verify his 2FA. “I have already had my 1st migration 3 yrs ago and now suddenly it’s showing like this today and we are not getting any email to verify 2FA please PCT help”
Things got worse when the community found out about a Pi Foundation 2 wallet that holds over 276 million Pi tokens, which is around $179 million. This wallet is said to have been making withdrawals over the past 3 months.
The wallet made another withdrawal of 7.38 million Pi tokens on June 4, making some worry that this goes against the idea of a fair and open system.
Despite the ongoing transactions, there has been no official statement from the Pi Core Team regarding the wallet’s activities or its ultimate purpose
Ecosystem Development and Investments
Despite all the issues, Pi Network is still pushing forward. It recently launched a $100 million fund called Pi Network Ventures. According to the company, this fund will support startups that build cool stuff on the Pi blockchain, focusing on areas like AI, fintech, online shopping, and social media.
The goal is to grow the Pi ecosystem. “This strategic program intends to invest in high-quality startups and companies across sectors, driving innovation and ecosystem growth,” the Pi Foundation shared in a recent post.
Pi Network Ventures will support projects from early ideas to more advanced stages. The team hopes these investments will lead to new apps and tools that people actually use.
Alongside this, Pi is running an auction for “.pi” domain names. These are digital names that can be linked to apps or personal projects on the network. It’s like Web3 usernames that go somewhere useful.
But not everyone is playing fair. Many are buying popular names just to resell them. This has raised concerns about domain squatting. The Pi Core Team wants people to build real things, not just collect names. They say new tools are coming to make it easier for users to create apps and services.
PI analysis and price prediction
PI has been in a downward trend since its mainnet launch in February which gave it a push to its peak of $2.98. However, since then, the market has been on a massive decline creating a long drawn downward trendline and now trading at $0.59.
Looking closer , the market seems to have reached a point of support which has previously given the market a spike up to $1.67, a 36% increase. But the rally didn’t last long, having stopped by a resistance level of $1.79 and quickly dropped back
This support zone is now being tested again. If the price holds, there’s a chance for another move up. We could expect a target around $0.91 or even back near $1.68. But if it fails, the price could fall lower, maybe even below current support.
Meanwhile, the long-term outlook remains hopeful. Forecasts suggest Pi could climb to between $3.3 and $5.5 by the end of 2025. Future growth will depend on how fast the mainnet develops, how many big exchanges list Pi, and how strong the ecosystem becomes.
For now, traders are watching closely. It’s a wait-and-see moment for Pi’s next big move.
Also Read: Metaplanet Buys $117M Bitcoin, Now Holds 10,000 BTC Total
