What is Driving Pi Coin’s Plunge towards an All-Time Low? Analyst Weighs In

Pi Coin has not lived up to the expectations of investors. While the token kick-started its journey with strong optimism from pioneers, these investors are now scratching their heads as the coin now sits 75.63% down over the last one year. 

Furthermore, despite other altcoins riding the bullish wave led by Ethereum, PI is still lagging behind. This slow burner-type of price action has eroded the confidence of investors as selling pressure piles. Now, the coin is closing in on a new all-time low; but what’s really driving this plunge? 

Pi Coin’s Bearish Pattern Continues, Points to a Deeper Plunge

Pi coin has been moving within a descending triangle pattern since late June 2025. The several attempts to break out of this pattern, which is often considered bearish, have been met by strong resistance. The daily chart on TradingView shows that Pi coin is trading at $0.4144 – still constrained within the descending triangle pattern. 

Failure to break out from this level, has dampened confidence of pioneers (Pi Coin investors). Thus, continuation in this pattern could lead Pi Network even deeper. At the moment, the coin has support around $0.4100. Any deep below $0.400 could mean a new all-time low for PI. 

Pioneers Are Losing Faith!

In July, the number of Pi tokens moved to exchanges has grown significantly. According to Pi Scan analytics, this number now stands at 405,287,387.92 PI. This number could even rise more in August, as Pi Team is expected to unlock an additional 161.6 million PI, releasing them into circulation.

Usually, a large number of tokens in exchanges means that investors are ready to offload at any given moment. With PI plunging, selling pressure is mounting on Pioneers who may offload to avoid bigger losses. 

Subsequently, recent efforts by the Pi Team to boost the ecosystem potentially reflecting on price recovery, seem to be in vain. The team rolled out many notable network updates over the last one month. Some of the updates include the “Buy Pi” feature (allowing users to purchase Pi using fiat), Ecosystem Directory Staking and Pi App Studio. But all in all, these efforts have failed to trigger a price recovery. 

What’s Behind Pi Coin’s Poor Performance? 

Once touted by enthusiasts, Pi Coin has significantly failed to deliver the ‘promise’. Back in June 2024 for instance, crypto enthusiast Lord Grey blew the trumpet for Pi network. He noted; 

“No project on earth has created utility packed ecosystem like Pi Network. Those should make it price spike up very fast at launch coupled with the fact that not all the 100 billion supply will be in circulation at once.”

Fast forward to today, the Pi coin is struggling as price nears an all-time low. Kim H Wong, a top Pi advocate, has pointed out what could be causing the lag in the growth of Pi network. 

In his post, Wong argued that the network has very few (if any) decentralized applications (dApps) which are vital for supporting real exchange of goods and services. With lack of dApps for bartering, this limits the practical use of Pi Coins. 

Wong also added that the second problem stems from the locking of Pi coins for most ecosystem users, upon transfer into their wallets. This, he argued , reduces the flexibility and utility of the tokens, thus affecting the network negatively. 

我认为Pi Network目前面对两个问题：首先，Pi目前很少甚至没有生态dApp开放可供易货交易，另外，大多数用户有很少Pi币可用因为大部份影射入钱包的Pi币都被锁定一段时间。解决方法是尽快开放可用的dApps，及尽快进行Pi第二次影射。不解决这两个问题，Pi Network很难兴旺。
I believe Pi Network…

— Kim H Wong (@Time_and_Trade) July 31, 2025

To solve these issues, Wong recommends the Pi Team must open up available dApps and conduct a second Pi migration as soon as possible. Failure to do so will continue to constrain Pi Network’s growth further translating to a drop in the price of PI.