Pi Network's native token PI has fallen below $0.09, trading around $0.082 at press time after a 10%+ decline in the past 24 hours. The drop comes just days after a brief recovery from an all-time low near $0.07, when the token surged 20% but failed to break the $0.10 resistance level.
Repeating pattern of bounces and breakdowns
Over the past several months, PI has followed a consistent pattern: the token trades in a narrow range for weeks, then suffers a sharp drop to a new all-time low, followed by a double-digit percentage bounce. Each bounce, however, has been rejected at a lower high, leading to another leg down. The most recent bounce from $0.07 to $0.09 fits that script.
The failure to reclaim $0.10 — a level that previously acted as support — has reinforced the bearish sentiment. Investors who bought during earlier bounces are now underwater, and the token's market cap ranking has slipped from the top 50 to outside the top 70 in just a few weeks.
Why the token is struggling
The Pi Core Team continues to announce network upgrades and ecosystem developments, but those updates have only a brief positive effect on price. The rallies they spark are short-lived, and selling pressure quickly returns.
Investor confidence remains low, weighed down by daily token unlocks that add to circulating supply. With no major catalyst in sight, the market is struggling to absorb the new tokens without further price erosion.
What happens if $0.07 breaks
The $0.07 level is now the critical floor. If it breaks, PI would enter price discovery with no historical support below it. That scenario could push the token out of the top 100 altcoins by market cap, a milestone that would likely accelerate selling.
For now, the token is clinging to the $0.08 area, but the pattern of lower lows suggests the next test of $0.07 could come within days. Whether the Pi Core Team can deliver a catalyst strong enough to change the trajectory remains the open question.
