The price of Pi Network (PI) price has fallen below the $0.70 mark and has been on a free fall. The token has declined by 20% in the last week and is currently trading at $0.6647, nearing its lowest point of $0.6417 in February 2025. This drop is due to increasing bearish pressure which is still prevalent in the overall crypto market.
PI has now fallen 77% from its all-time high of $2.98, reached just a month ago. The token’s market value has plunged from nearly $20 billion to just $4.51 billion.
One of the main concerns is the supply – in a year, 1.5 billion new tokens will be added to the total supply, which will be 8 billion. This has been compounded by the fact that there are no significant listings on Binance, Coinbase, and Kraken.
From the technical perspective, there is a bearish outlook on the downside. The RSI is at 32.03 now which is close to oversold level and the MACD is negative. If PI falls below $0.65, the next support level is at $0.61, which may bring a new record low.
For a recovery, PI must get back to $0.70 and surpass $0.80. Further price rise above $0.90 may be an indication of an upward trend. Until then, the token is under pressure and can continue to decline further down the charts.
Also Read: Pi Network Falls Below Top 25 on CoinMarketCap
