According to data from crypto.news, the Pi Network token has continued to decline steadily since its February peak, losing more than 90% of its value in just eight months. After reaching an all-time high of $2.99, the token now trades below $0.30.
Over the past six months, the token’s market capitalization has dropped by more than $18 billion, fueling growing concerns among holders that the Pi Network team may be preparing for a potential rug pull.
“Pi crashed over 90% from its highest position — that’s basically a rug pull. Why should I or other Pi Network investors be happy about that?”
— a frustrated user wrote on X (formerly Twitter).
Many community members still believe that 1 Pi equals $314,159, a value long touted as the “Global Consensus Value.” However, skepticism within the community is rising, with traders increasingly viewing this valuation as unrealistic.
At the center of the controversy is the Pi Core Team, which allegedly holds around 90 billion tokens. This heavy concentration of supply has led to accusations that the team wields undue control over the token’s price and market dynamics. Analysts have also suggested that insider selling could be contributing to Pi’s steep decline.
Supporters of the project, however, argue that Pi never raised external funds — meaning it cannot technically be considered a rug pull. Still, the high centralization of tokens within the Pi Foundation continues to raise alarms over potential market manipulation.
Pi Network Price Analysis
At the time of writing, Pi trades near $0.263, under persistent selling pressure. The token saw a sharp decline in late September, dropping from the $0.33–$0.34 range to below $0.26. Since then, price action has been mostly sideways, reflecting uncertainty among traders about Pi’s next move.
The 30-period moving average currently hovers around $0.2623, serving as a short-term resistance level and indicating a potential struggle for the token to regain upward momentum.
Despite recent stabilization, momentum indicators suggest only limited recovery potential for Pi Network. The Relative Strength Index (RSI) currently stands at 62.00, indicating a slight uptick in buying pressure but remaining within a neutral range. A sustained move above 70 could point to an overbought condition, while a drop below 50 would likely confirm renewed bearish momentum.
At present, the RSI suggests mild bullish sentiment following an extended period of sideways consolidation.
From a structural standpoint, Pi’s price shows limited upward momentum as long as it trades below the $0.28 resistance zone. A clear breakout above this level could pave the way for a rebound toward $0.30, though such a rally would require strong trading volume to be sustainable.
Conversely, if Pi fails to hold support near $0.26, the price could slip further toward $0.24, particularly if broader market sentiment weakens or large holders increase their selling activity.
