Pi Network price plunges 90%, eyes rebound on falling wedge
Pi Network price has collapsed over 90% from its all-time high of $2.98 to near $0.15, shrinking its market cap from $20 billion to under $2 billion as relentless token unlocks, centralization concerns, limited utility and liquidity drain triggered massive sell-offs. Spot-market volumes have dwindled and major exchanges remain hesitant to list PI, exacerbating illiquidity and downside pressure. The Valor Pi ETP saw assets fall from $3,400 to $3,000 since launch. Technical indicators signal a potential bullish reversal: price has breached the lower boundary of a falling wedge and trades below the 50-day EMA, with RSI in oversold territory and PPO divergences pointing to a breakout targeting $0.50 (120% upside). Developers are addressing challenges by investing in AI node projects like OpenMind, launching a DEX/AMM testnet for PancakeSwap and Raydium integration, and rolling out KYC tools to unlock mainnet PI. Future catalysts include major exchange listings, real-world utility expansion and possible token burns for Pi Network price.
Bullish
Despite the steep decline in Pi Network price triggered by token unlocks, centralization issues and limited liquidity, technical indicators now point to a bullish scenario: the breakout from a falling wedge pattern, oversold RSI and positive PPO divergences suggest a strong rebound may be imminent. Developer efforts to enhance utility—such as AI node integration, DEX/AMM deployment and KYC-driven mainnet unlocks—along with potential exchange listings and token burns, provide further upside catalysts. In the short term, traders could see relief rallies as market sentiment shifts, while long-term holders may benefit from improved liquidity and broader adoption.