Pi Network’s Pi Coin (PI) posted a modest recovery on Tuesday after sliding to $0.150 a day earlier, marking its lowest level since the token began trading on exchanges.
The sharp decline represents a key stress test for the project as opposing forces come into play. On one hand, shrinking exchange reserves suggest reduced near-term selling pressure. On the other hand, upcoming token unlocks remain a potential headwind.
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Risk-Off Sentiment Weighs on Crypto as Pi Coin Prints Record Low
President Donald Trump’s announcement of new tariffs on eight European Union countries triggered broad market volatility, weighing on risk assets across the board.
BeInCrypto reported that precious metals rallied on safe-haven demand. Yet, equities and crypto-linked stocks moved lower. Bitcoin (BTC) slipped below $95,000, with Ethereum (ETH) also posting losses.
Pi Coin (PI) was not spared from the market-wide downturn. Data showed the token fell to a record low of $0.150 on OKX, with price charts printing a pronounced lower wick.
Despite the bearish close, the long lower wick signals a failed attempt to push the price lower. Sellers briefly forced a sharp drop, but buying interest absorbed the move and rejected deeper downside, indicating volatility and demand below the current range rather than sustained selling dominance.
This price behavior aligns with shifts in exchange balances. Exchange statistics from Piscan showed that as of January 20, centralized exchanges held about 420 million Pi tokens worth roughly $75.6 million.
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This figure dropped by nearly 7 million since early January, hinting that investors bought the dip and quickly withdrew PI from platforms. At the time of writing, the altcoin traded at $0.189, up roughly 1% over the past 24 hours.
Pi Network Price Faces Fragile Outlook as Volume Slumps and Supply Set to Rise
However, the rebound appears fragile. BeInCrypto noted that Pi Coin’s weekly trading volume has declined sharply, falling below $100 million, a 99% decrease from the $10 billion-plus weekly volume seen in March 2025.
With trading activity so thin, price recoveries are difficult to sustain, as low volumes signal limited investor participation. This lack of engagement is further reinforced by Google Trends data, which shows search interest for “Pi Network” remaining subdued, standing at just 5 at press time.
“The only expectation that can truly make PI take off is a Binance listing,” a user claimed.
Looking ahead, additional supply-side pressure may emerge. The Pi Network is scheduled to unlock over 140 million tokens over the next 30 days.
Token unlocks often act as a short-term headwind for price performance by increasing the circulating supply. When a large number of tokens enter the market, holders may choose to realize gains, adding selling pressure. If demand does not rise proportionally, the expanded supply can weigh on prices.
Source: https://beincrypto.com/pi-network-price-record-low-volume-collapse/