Why Pi Network is Continuously Suffering: Is It Banished Already?

Why Pi Network See Frequent Rallies but Rarely Achieve Lasting Uptrend

Pi Network is back under pressure after a recent breakout failed to hold. Pi Coin surged above $0.19 in mid-February, but the rally faded quickly, pushing the network value toward the $0.16 zone, and then further to $0.15. 

Source: X Official

As of latest data, Pi Coin price today is hovering around $0.158, down roughly 4–6% in the last 24 hours, underperforming the broader crypto market, which fell closer to 3% over the same period. Market capitalization now sits around $1.4 billion, while trading volume remains steady but far from aggressive buying levels. 

Source: CoinMarketCap Data

The pullback comes just days after the project marked one year since its Open Mainnet launch in February. Earlier the month, the coin rallied nearly 35% ahead of its anniversary milestone. However, once the breakout stalled near $0.20, traders moved to lock in profits, dragging prices lower. 

This pattern isn’t new for the network and its community. Since its open mainnet launch in February 2025, the network has seen multiple sharp price rallies, but almost all of them have ended the same way: fast reversal, heavy sell-offs, and long consolidation phases. 

This repeated pattern has raised a growing question among investors and early adopters alike: Why is the network price still struggling after more than a year on mainnet? 

And more importantly, is Pi Coin already losing market relevance?

Historical Data: From Hype to Heavy Selling

The network has followed a long-waited rally then fast fall pattern in a consistent way since launch in 2025. Each surge was driven by specific events or speculative catalysts, but almost every one ended with a sharp drop or extended sideways price action. 

Here’s how it has played out so far.

February 2025 Launch Surge (ATH ~$2.7–$2.8)

The token spiked sharply after Open Mainnet went live, reaching nearly $3.00. The rally faded quickly as heavy supply entered the market, sending the prices ($1.7) into a steep decline, with a 37.04% loss within a week.

Mid-2025 Recovery Rally (Highs ~$0.40–$0.52)

A 2025 May rebound lifted the coin into the $1.20–$1.23 range due to upgrades (v19.6 rollout, v19.9 preparation) and oversold technical bounce. Momentum stalled as the move failed to attract sustained demand, and prices drifted back towards the low-$0.63 in just 2-3 days following the surge. 

February 2026 Bounce (Recent One)

Setting new lows near $0.13 following months of continuous downtrend, Pi rebounded into the $0.19–$20 range amid v19.6 upgrade completion and anniversary-related optimism. The move lost strength near resistance, and the price slipped back into consolidation. 

Possible Reasons Behind Fall

• Millions of tokens unlock regularly with limited demand

• Weak utility and minimal external integrations

• Low liquidity makes pumps easy, but dumps faster

• Ongoing migration and KYC delays frustrate long-term users

• Speculative buyers often take profits at key resistance levels

Is Pi Network Already Banished by the Market?

The platform isn’t dead, but it’s clearly struggling to escape its own structure. 

The market continues to price Pi Coin as a high-supply, low-utility token. However, repeated surge-then-fall cycles reflect structural challenges, not a lack of interest alone. 

To break this cycle, it needs more than upgrades or anniversaries:

• A fully active DEX and smart contracts

• Proven real-world utility at scale

• Tier-1 exchanges listings with deep liquidity

• Demand strong enough to absorb daily unlocks

Until then, the pattern of short-lived spikes followed by extended pullbacks will likely continue.

In short: Pi Network isn’t gone, but it’s not out of the woods yet.

Note: This article is for informational purposes only. It does not constitute investment advice. Readers should independently verify information before making decisions.