Pi Network's PI token jumped roughly 20% in the past day, climbing to nearly $0.10 and hitting a weekly high. The rally comes just days after the coin scraped a new all-time low of $0.07 — a drop of more than 97% from the peak it set over a year ago. That low marked one of the steepest slides in the token's short history, and the sudden bounce has traders asking whether a real recovery is underway or if this is just another temporary pop.
A 97% plunge and a sudden bounce
PI's all-time high came more than a year ago. Since then, the token has lost almost all its value. The recent slide to $0.07 was the lowest point ever, and the 97% decline from the peak put PI in a deep bear territory. But the coin reversed course sharply, climbing back toward the $0.10 level. That price point now acts as a key resistance — a wall the token needs to break to sustain any upward move.
The $0.10 wall and a history of reversals
This isn't the first time PI has staged a sharp recovery. In mid-March, the token rose from $0.20 to $0.30 on hype surrounding a Kraken listing. That rally fizzled fast — within 72 hours, the price fell back below $0.20. The pattern is familiar: a quick spike followed by an equally quick retreat. The current move from $0.07 to $0.10 mirrors that earlier surge in speed, though the starting point is much lower.
Whether the token can hold above $0.10 will be the real test. If past behavior is any guide, the rally could reverse just as quickly as it began. The big question — the one traders are watching now — is whether this bounce has legs or is simply a dead-cat bounce before another leg down.
