Pi Network Mainnet Spurs Extreme Volatility — PI Down ~95% from February Peak
Pi Network launched its mainnet on 19 February 2025 and listed the PI token on major exchanges including Bitget, OKX and MEXC. Early momentum — driven by extended KYC windows, PiFest events, a .pi domain push, Pi Ad Network expansion, Pi App Studio, hackathons and a $100M Pi Network Ventures fund — pushed PI to an all-time high of $2.99 in late February. Following the listing-driven spike, PI entered a prolonged decline, falling roughly 95% to an October low near $0.172 and stabilizing around $0.20 by December. Short-term price moves have been tightly correlated with ecosystem announcements and listing rumors (notably Binance listing rumors in May that briefly lifted PI above $1.70). The project continued rolling out on-chain products — Pi DEX and AMM, Pi App Studio, venture investments and partnerships such as CiDi Games — but market response has been muted and volatility remains high. Key takeaways for traders: expect extreme post-listing volatility, large drawdowns from hype-driven peaks, and price sensitivity to announcements and listing news; the $0.20 area has emerged as a near-term support zone. PI’s medium-term recovery depends on tangible user adoption, transparent execution of DEX/AMM and venture investments, and improved liquidity from sustained exchange support. (Primary keywords: Pi Network, PI token, mainnet launch, price volatility, exchange listing.)
Bearish
The combined reporting shows PI experienced extreme post-listing hype followed by a roughly 95% drawdown from its February peak and only limited stabilization around $0.20. That historic collapse and the pattern of short-term spikes tied to rumors indicate fragile market confidence and high downside risk. In the short term, expect continued volatility around announcements and exchange news; traders may see rapid pumps on listing rumors and equally swift sell-offs. Liquidity could remain thin outside major exchanges, amplifying price moves. In the medium to long term, the outlook is conditional: successful deployment and adoption of on-chain products (Pi DEX/AMM, apps), demonstrable venture-funded use cases, and sustained exchange support could be bullish catalysts. Absent clear adoption and improved liquidity, however, the dominant effect of the news is bearish for PI’s price — current market behavior favors downside risk and capital preservation strategies (tight risk management, smaller position sizes, use of stop losses).