- Pi Network’s token has dropped 35% to a new all-time low of $0.40, despite initial hype after its long-awaited launch
- Broader crypto market weakness and lack of strong recovery momentum have weighed heavily on $PI since its February ATH of $2.84
- While short-term performance is weak, analysts project long-term growth
Despite initial enthusiasm following the long-anticipated launch of its token, the price of Pi Network has crashed 35% to hit its all-time low (ATL). That said, the losses are part of the wider cryptocurrency market downturn that has seen other digital assets decline, too.
Since it started to demonstrate mixed signals with short-term bearish trends about a week ago, $PI has continued to drag its feet. Today, it dropped to $0.40 in a matter of hours, or before slightly recovering again, according to the most recent chart data from TradingView.
Notably, Pi Network’s price movements were largely steady, if unimpressive, since the token’s all-time high (ATH) of $2.84, reached on February 27 this year, just a few days after its long-awaited release. A brief sign of recovery appeared on May 12, when $PI hit $1.522, but it was soon hit by harsh market realities.
Meanwhile, the entire crypto market has been going through a bit of a rough patch lately, during which many other assets have been registering declines. Even the market leaders, Bitcoin (BTC) and Ethereum (ETH), have seen losses of 2.76% and 8.71%, respectively.
Analysts Offer Wildly Bullish Long-Term Price Targets
That said, crypto analysts retain optimism regarding Pi Network’s long-term potential, expecting the price to rise significantly once both the project and its popularity expand. According to CoinCodex, it should trade between $0.46 and $0.67 from 2025 to 2027 before jumping to $0.91 – $2.81 by 2028.
At the same time, DeepSeek forecasts a gradual increase to a range of $200 to $500. The generative AI model expects a rise as a result of the growing adoption and use of Pi Coin around the world. The team at Bitget is even more optimistic and believes Pi will reach a value of between $500 and $1,000 by 2030.
Still, Pi Network’s focus since its inception was never the price performance of its token (although it helps in adoption) but its utility in the ecosystem. Hence, those who see things this way, including its developers, probably won’t be exceptionally concerned that its value has dropped.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
