Pi Coin drops 15% to $0.081 as market cap falls below $1B

Pi Coin fell 15% to $0.081 on July 13, extending its seven-day decline to 27%, CoinGecko data shows. The token's market cap stood at $897 million, down from a peak of roughly $3.5 billion shortly after its mainnet launch in early 2025. Pi Coin has now lost more than 97% from its all-time high of $3.10.

"The decline reflects a structural supply-demand imbalance that the Pi Core team has not addressed," Dr Alcoin, an independent crypto analyst, said. "Without listings on major exchanges like Binance or Coinbase, the millions of unlocked tokens from the mining phase have no natural buyers."

The token's relative strength index fell to 14, deep in oversold territory, though the rising average directional index indicates the downtrend remains strong. Volume bars have been green for three consecutive sessions, signaling sustained selling pressure. Pi Coin's circulating supply has grown steadily as the Pi Core team continues to unlock tokens accumulated during the project's multi-year testnet phase, with no buyback or burn mechanism in place to offset dilution.

Community backlash has intensified as the token's value deteriorates. Users including shahryar and cofeedosa on X have accused the Pi Core team of failing to support projects built on the network and remaining silent as prices collapsed. One project, Workforce, launched on Pi Network in 2021, was put up for sale in 2025 after failing to attract users. "If milestones such as PIDEX continue to be delayed, market confidence may weaken further," cofeedosa said.

Pi Coin's decline threatens the broader Pi Network ecosystem, which claims tens of millions of mobile miners who accumulated tokens during the project's years-long testnet phase. Many of those users are now selling their allocations, creating a supply glut that the token's limited exchange availability cannot absorb. The token trades primarily on OKX, HTX and a handful of smaller exchanges, with no listing on Binance or Coinbase — a key demand from the community since launch.

Dr Alcoin outlined two scenarios that could reverse the decline: a listing on a top-tier exchange that would provide sufficient liquidity to absorb selling pressure, or a token buyback and burn program by the Pi Core team. Neither appears imminent. The Pi Core team has not announced any exchange listing negotiations or supply-reduction mechanisms, and the project's leadership has remained largely silent during the selloff.

Pi Coin's next support level sits at $0.05, a 38% decline from current levels. A close above $0.10 would signal the first meaningful recovery attempt, though the token has not traded above that level since June 20.

This article is for informational purposes only and does not constitute investment advice.