Pi Network price has remained in a tight range in the past few weeks and underperformed the broader crypto market. It was trading at $0.2050, a range it has been at in the past few weeks, and over 90% below its highest level in 2026. This article explores the top reasons Pi Coin continues to underperform and what to expect.
Pi Network Price Has Stalled as Demand Faded
The main reason why the Pi Network price has moved sideways is that demand has remained thin this year. Data show that daily trading volume has been below $10 million, which is a small amount for a large cryptocurrency in the top 50.
At the same time, the Valor Pi Fund, which is listed in Sweden, has attracted less than $3,000 in assets since its launch in August last year.
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Second, the volume is fading at a time when the supply continues to rise through daily token unlocks. According to PiScan, Pi Network unlocks millions of tokens a day, and this year it is expected to unlock 1.2 billion. This trend has led to a demand and supply imbalance.
At the same time, Pi Network has struggled to attract developers and users because it is less advanced and less popular than other blockchain networks like Ethereum and Solana. It is also unclear whether the upcoming DEX and AMM tools will be popular within the community.
Pi Network remains a highly centralized blockchain platform, with all decisions made by the team and the community not involved. This is unlike other chains, where community members can make pitches that are subjected to voting.
For example, when Uniswap wanted to burn its fees, the team proposed it and put it to a vote. Similarly, a few activities on public chains like Ethereum and Solana are conducted without voting. The Pi Foundation also holds billions of tokens, creating a major risk to investors.
Pi Network price has also crashed because it is viewed as a ghost chain, and many pioneers who have migrated their tokens have capitulated, dumped them, and moved on to other projects. Indeed, there are just 20 whale accounts today, down from 23 in December.
Additionally, the Pi Network team has not made any major announcement this month. The only one it made was on the launch of payment tools for developers. While significant, such news rarely moves cryptocurrencies.
Pi Coin Price Technical Analysis
The daily timeframe chart shows that the Pi Coin price has been moving sideways over the past few days. It has formed a rising wedge pattern, a common bearish reversal signal in technical analysis.
This wedge is happening after the token dropped sharply from the November high of $0.2833. As such, it is part of the bearish pennant pattern, a common bearish sign.
Therefore, the most likely Pi Network forecast is bearish, with the next key level to watch being the all-time low at $0.1545.
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