Pi Network Enters Bullish Mode

A Bounce From Rock Bottom

@PiCoreTeam's $PI token has posted a sharp rebound, rising more than 16% from its all-time low of $0.07072 recorded on July 14, 2026. The move offers some relief to the project's community of Pioneers, who have watched the token slide without interruption for much of the year.

The recovery comes after a brutal stretch for the asset. PI's price had fallen nearly 15% to around $0.08, setting a new all-time low, with the primary catalyst being an impending unlock of 127.5 million $PI tokens scheduled for the coming weeks. The expected surge in circulating supply prompted a rush to exit positions, with bearish sentiment reinforced by deeply negative funding rates near -2.15% and a drop in derivatives open interest.

Despite the rebound, the token remains deeply in the red on a longer time horizon. Pi Network reached an all-time high of $2.99 and is now trading roughly 97.5% below that peak. In 2025, Pi Network surged to its all-time high of $2.98 in February before entering a prolonged decline.

Supply Pressure and the Road Ahead

The token's persistent weakness has been driven largely by supply-side forces. The catalyst has been consistent: anticipation of 127.5 million PI tokens unlocking over roughly 30 days, overwhelming already-thin exchange liquidity as holders sell ahead of the dilution. Pi Network is also struggling because it still lacks listings on major exchanges like Binance, Coinbase, and Bybit.

On the demand side, the @PiCoreTeam has been pushing new utility products in an effort to create organic buying pressure. On June 28, Pi Network celebrated its annual Pi2Day by launching three products: SoloHost, a framework for locally run AI apps; Pi Sign-in, a decentralised login system; and PiVerify, a KYC verification service for external clients. The immediate question is whether new fee-based services like PiVerify can generate enough demand to absorb the ongoing supply shock.

Whether the latest bounce marks a genuine turning point or a brief respite remains to be seen. Pioneers have been vocal about wanting a sustained price recovery, but analysts note that a durable rally will likely require both a slowdown in token unlocks and meaningful growth in ecosystem adoption.

Sources:
CoinPedia: Pi Network hits new all-time low after 97% crash
CoinMarketCap: Latest Pi Network News and Market Insights
CoinGecko: Pi Network (PI) Price, Market Cap and Data