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- Over 16.2 million users have migrated to the mainnet, with 300+ apps now live.
- A recent influx of 200 million tokens into exchanges is driving the current price decline.
- Pi is currently testing support at $0.15; a break below could lead to new all-time lows near $0.13.
Pi Network recently marked its first year of the Open Network, a milestone that typically calls for celebration. However, for many “Pioneers,” the festive mood is being dampened by a cold reality on the charts. While the network’s internal metrics show a project in high gear, the market price of the Pi token is currently telling a story of stagnation and sell-side pressure.
A Tale of Two Realities: Adoption vs. Value
The Pi Core Team’s latest anniversary data presents a picture of massive scale. In 2025 alone, over 10 million users migrated to the mainnet, bringing the total to more than 16.2 million. On the utility front, the network now hosts over 300 apps, supported by a staggering 421,000 active nodes. From a developer’s perspective, the infrastructure is flourishing—highlighted by AI-driven creation tools and a local commerce map featuring nearly 150,000 sellers.
Yet, despite this robust ecosystem growth, the token’s market value has recently dipped toward all-time lows. Over the past week, Pi shed more than 10% of its value, sliding toward the $0.1300 mark. This disconnect raises a critical question: why isn’t the price following the progress?
The Liquidity Challenge
The primary culprit behind the price slump appears to be a sudden surge in available supply. The recent resumption of mainnet migrations allowed users to deposit Pi tokens onto centralized exchanges. Reports indicate that roughly 200 million Pi flowed into exchange wallets in a matter of days.
In a market still finding its footing, this influx of liquidity often translates into immediate selling pressure. Furthermore, significant outflows from foundation-linked wallets have kept traders on edge. When large volumes of tokens move toward exchanges, the market generally interprets it as a sign of impending distribution rather than long-term holding.
Also Read: Pi Network Turns One: Are Users Finally Getting Their Coins?
Technical Outlook: Finding the Floor
From a technical standpoint, Pi remains firmly in a bearish trend. The token is currently trading below its 50-day Exponential Moving Average (EMA) of $0.1758. For those watching the charts, the $0.1533 level is the line in the sand.
If Pi fails to hold this support on a daily closing basis, it could trigger a deeper slide toward its record lows. For the community, the hope is that the utility being built today will eventually create enough demand to absorb the current supply. For now, however, the “Anniversary” serves as a reminder that ecosystem growth and market price don’t always move in lockstep.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
