The price of Pi Network’s native token, PI, has tumbled to its lowest level ever recorded, breaking below $0.4 before continuing its retrace to $0.35 at the time of writing. The crash comes just days after a controversial announcement from the Pi Network team, which may have intensified bearish sentiment across the community.
However, this move has done little to calm the storm, and Pi’s price continued its decline. The announcement’s timing may be flawed, particularly given the unaddressed concerns about migration delays and token liquidity. There’s the inability to trade or use much of the circulating supply, and now, locking tokens with no guaranteed future liquidity feels more like a sacrifice than a strategic decision.
Now that Pi is trading around $0.35, the downtrend has officially entered uncharted territory. Unless a strong support zone materializes quickly, Pi Network delivers a major ecosystem catalyst, or the inflow into the market returns, the current collapse may extend deeper.
The lockup initiative, which was intended to encourage commitment and network growth, appears to have backfired among a user base already grappling with doubts about the project’s pace. As such, the Pi Network faces increasing pressure to deliver meaningful progress before the community’s confidence erodes even further.
At the time of writing, Pi is trading at $0.352, down by 1.4% and 19.6% in the past 24 hours and seven days, respectively.
