The Pi Network's Pi Coin (PI) recorded a slight recovery on the following Tuesday after falling to a lowest price of $0.150 since the start of trading on exchanges.
This sharp decline has become a significant stress test for the project. There are opposing factors at play. On one hand, the decrease in exchange reserves suggests a reduction in short-term selling pressure. On the other hand, the upcoming scheduled token unlocks may continue to pose headwinds.
Risk-averse attitudes weigh on cryptocurrencies; PiCoin hits a record low.
The new tariff announcement by President Trump for the eight European Union member countries triggered broad market fluctuations and depressed risk assets overall.
According to BeInCrypto, precious metals have risen due to safe-haven demand, while stocks and cryptocurrency-related stocks have declined. Bitcoin (BTC) fell below $95,000, and Ethereum (ETH) also dropped.
PiCoin (PI) also did not escape the overall market decline. According to data, the token fell to a record low of $0.150 on OKX, forming a clear lower wick on the chart.
Despite the weak closing price, the long lower wick indicates that further downward pressure has been repelled. Sellers temporarily caused a sharp drop in price, but buying demand absorbed the movement, denying a deep decline. This suggests that volatility and demand at the current range are present, and it does not mean that selling dominance is sustained.
Such price movements align with fluctuations in exchange holdings. According to Piscan's exchange data, as of January 20, approximately 420 million Pi tokens (worth about $75.6 million) were held by centralized exchanges.
This number has decreased by about 7 million since early January. This suggests that investors have increased their purchases during the downturn and quickly withdrawn their PI from the platform. As of the time of writing, the altcoin is trading at $0.189, up approximately 1% in the last 24 hours.
Pi Network faces uncertainty with decreasing trading volume and increasing supply.
However, this rebound appears to be fragile. As BeInCrypto points out, the weekly trading volume of PiCoin has sharply declined, falling below $100 million. This is a 99% decrease from the over $10 billion recorded in March 2025.
In such a situation where trading is extremely thin, price recoveries are unlikely to last. Low trading volumes indicate limited investor participation, and Google Trends data shows that interest in "Pi Network" has stagnated, remaining at just 5 at the time of writing.
"The only hope for PiCoin to really soar is its listing on Binance," claimed one user.
Looking ahead, further supply-side pressures are a concern. Pi Network plans to unlock over 140 million tokens in the next 30 days.
Token unlocks often create headwinds for prices in the short term. As circulation increases, a large amount of tokens flood the market, leading holders to choose to take profits, resulting in selling pressure. Unless demand increases proportionally, it will become a downward pressure factor due to the increase in supply.
