Pi Network Price Drops Over 90% in 2025
Pi Network (PI) price fell more than 90% from its peak of $3.00 in 2025. The decline followed the mainnet launch and increased token deposits on KYC-verified exchanges. Although Pi made upgrades, formed partnerships, and added AI features for KYC, it struggled to regain investor confidence. Legal issues and a lack of clarity about the project added to the challenges. Still, 17.5 million users have completed KYC verification, offering potential for future growth.
Pi Network Mainnet Launch and Token Listing
Pi Network launched its mainnet on February 20, 2025. The token was listed on several KYC-verified exchanges such as OKX, Bitget, MEXC, Gate.io, and Pionex. PI hit its all-time high of $3.00 on February 26, 2025. However, the price dropped sharply soon after, with a 66% monthly drop in March 2025. Selling increased notably during Pi Day on March 14, 2025, contrary to previous years’ support from the community.
Impact of Public Appearances and Partnerships
- Co-founder Nicolas Kokkalis’ first public appearance at Consensus 2025 caused a 42% price drop during May 14-16.
- A community meetup in Seoul on September 22 coincided with a 19% price decline.
- Kokkalis announced Pi Network Ventures, a $100 million investment fund, at Consensus 2025.
- Pi Network invested in OpenMind startup and tested its node network on the startup’s platform.
Upgrades and Ecosystem Growth
- Pi Network began upgrading its protocol to Stellar version 23 in September 2025.
- The team announced plans for Web 3.0 features like a decentralized exchange (DEX) and automated market maker (AMM).
- 17.5 million users have completed KYC, with 15.7 million migrated to the mainnet, enabling them to deposit PI on exchanges.
- Pi partnered with CiDi Games to use PI as in-game currency, testing expected in Q1 2026.
- The first hackathon attracted 215 developer applications, with winners developing apps for dating, loyalty programs, and running games.
Challenges and Market Pressure
Despite upgrades, partnerships, and new features, Pi Network struggled to maintain investor interest. The token fell below $0.20 by December 2025. Mainnet migration allowed users to deposit tokens on centralized exchanges, increasing supply pressure. About 436 million PI tokens (3.4% of total supply) are now on exchanges, raising risks of price manipulation.
Concerns over unclear roadmap, tokenomics, and delayed updates have hurt confidence. Ben Zhou, founder of Bybit exchange, called Pi a “scam” and shared a police warning related to its mainnet launch. Most PI tokens are held by the Pi Foundation and a few large wallets, raising concerns about potential market manipulation.
Looking Ahead: 2026 Price Outlook and Risks
In 2026, 1.21 billion PI tokens are scheduled for unlocking. This could add selling pressure and lower prices further. The AI-enabled KYC process may speed up user migration to mainnet, increasing token deposits on exchanges.
Mandatory Know Your Business (KYB) rules limit PI’s chance to list on major exchanges like Binance. However, if Pi Network improves transparency, communication, and ecosystem growth, it may regain strength.
Technical Analysis for 2026
PI trades just above $0.20 support as of December 18, 2025. Key support levels are $0.1924 and $0.1533. A break below $0.10 could lead to further losses.
On the positive side, indicators like the Relative Strength Index (RSI) and MACD suggest selling pressure may be easing. A rise above $0.29 could open the path to resistance at $0.40 and then $0.50.
Expert Insights on Pi Network
Dr. Altcoin, a Pi Network supporter, shared his 2026 price outlook with FXStreet:
- Conservative scenario: $0.35–$0.75 if adoption remains
