Pi Network's token jumped 10% over the past 24 hours to $0.0889, extending a recent recovery that has drawn attention from traders. The wider cryptocurrency market gained 0.73% during the same period, pushing its total valuation to $2.21 trillion, according to data tracked by GFdaily.
Still far from the peak
Pi's latest uptick comes after a prolonged slide. The token's market capitalization has fallen from nearly $20 billion to about $918 million — a drop of more than 95% from its highest levels. Pi remains well below its record high near $3, a milestone it hit during the 2025 rally.
What's driving the move
There's no single catalyst behind today's price action. The broader market's modest gain suggests Pi is riding a general uptick rather than a project-specific announcement. Pi Network's development team has not released any major updates this week that would explain the move.
Recovery or dead cat bounce?
The 10% gain is Pi's biggest single-day increase this month, but the token is still down more than 90% from its peak. Some traders are watching whether the rally can hold above $0.09 — a level that acted as resistance earlier in July. If it breaks through, the next target is around $0.10. A failure to hold could send Pi back toward recent lows near $0.078.
The timing isn't great for Pi's long-term holders. The project's mainnet launch remains in limbo, and questions about its tokenomics continue to hang over the market. For now, the price recovery is giving short-term traders something to work with — but the fundamentals haven't changed.
