TL;DR

Pi Networks native token cannot catch a break as its price has tumbled once again in the past 24 hours to a record low of just over $0.5. This latest decline came after a former PI proponent alleged the project to be a slow rug pull, while others have questioned the teams viability.

PI Token Price. Source: CoinGecko

PIs Latest Plunge

The first month and a half after PIs official launch and ability to be traded are a perfect example of a typical sell-the-news event in the cryptocurrency industry amid massive hype. Recall that the project actually started roughly seven years ago, and it was in development until February 20, 2025. Within this rather extensive time period, its community grew substantially even though it saw countless delays and controversial moves.

After PI went live, its price shot up from under $2 to $3 to mark a new all-time high. That was on February 26. Since then, it has been nothing short of a spectacular downfall. At press time, PI trades at $0.55, which is 81.5% lower than its record.

Hours ago, it charted a new all-time low of $0.54 (according to data from CoinGecko) after dumping by another 16-7% in the past day. Admittedly, the entire crypto market has struggled in the last 36 hours after Trumps latest tariffs, but very few large or mid-cap alts have produced such massive declines.

Actually, PI is the biggest loser from the top 100 alts. Next in line is SUI with -10% and all others are with single-digit drops, even the ever-volatile meme coins.

PI has fallen out of the top 30 alts by market cap. Recall that the asset was close to the top 10 just over a month ago.

Further Troubles Ahead?

The new all-time low comes just a day after a former PI proponent did an 180 and called Pi Network a slow rug. Crypto X is full with analysts and commentators that are trying to make sense of what is happening with PIs price and in the overall Pi Network ecosystem.

Dr Altcoin was skeptical about PIs long-term potential since most major exchanges, such as Binance, seem reluctant to list it, at least until the Pi Core Team (PCT) becomes fully transparent about its tokenomics.

At such a low price, the Pi community will struggle to utilize DApps within the Pi Ecosystem. If this continues for months, most Pi holders will sell off their coins and shift to newer crypto projects. Dr Altcoin added.

The only move ahead, the X user concluded, is to burn billions of Pi coins from its Pi Foundation wallets. This is the only way to push the price above $10 and sustain the networks long-term value.