The journey of Pi Network from a mobile-based mining novelty to a tradable token has been rather bumpy—and fascinating. The question on many minds: Is Pi Network finally launching? Spoiler: yes, but the aftermath is more volatile than some expected. This article delves into the twists and turns of Pi Coin’s price evolution, from the long-awaited mainnet launch to current market pressures.
Mainnet Day: The Launch and Immediate Price Reaction
February 20, 2025 marked a watershed moment for Pi Network as its “Open Mainnet” went live at 08:00 UTC. The launch ended the enclosed testnet phase, opened external blockchain connections, and listed Pi Coin on exchanges such as OKX, Gate.io, Bitget, and CoinDCX . The mere announcement triggered excitement:
– CCN reported a 70% surge shortly after the reveal, pushing Pi Coin from below $50 to over $90 in some IOU markets .
– Brave New Coin noted a dramatic 36% spike within an hour post-launch, with peak prices reaching $3.41 on Bitget .
– A Cointelegraph article, however, described a wild crash—65% down from $1.84 to $0.64—as trading began .
The mixed movements reveal how speculative frenzy, immediate sell-offs, and uncertainty about exchange support and legitimacy converged on Day 1.
From Highs to Struggles: Pi Coin’s Roller Coaster
After the mainnet fireworks, Pi Coin entered a sustained bear phase. By mid-2025, analysts observed:
– A May 2025 spike to around $2.10, followed by a steep fall to $0.35–$0.40, erasing many gains .
– Losses of nearly 79% year-to-date despite a 32% rally in May, underscoring extreme volatility .
In parallel, Brave New Coin tracked consolidation around $0.82, noting resistance at $0.86 and speculation of a $3 return—though the path remained uncertain .
Community Influence and Listings: Hope Anchors Price
Pi Network’s value has often hinged on user sentiment and exchange developments:
– A surge of 2.7 million users migrating to mainnet stirred a 20% rally with a trading volume spike of over 1,000%, pushing daily turnover above $114 million .
– Speculative leaps also surfaced—the community anticipated a Binance listing, and discussion threads imagined skyrocketing valuations if supply was tight .
“If major exchanges list Pi Coin early, liquidity and price will soar.”
—A sentiment echoed by traders and analysts alike.
Yet, despite initial enthusiasm, major platforms like Binance remained cautious. Binance members voted yes to listing, but official action remained pending .
Downtrend Intensifies: Unlocks, Saturation, and Momentum Loss
By early 2026, the landscape had darkened:
– Pi plummeted to an all-time low of $0.14 on February 1, 2026—a 93% drop from its February 2025 peak of nearly $3.00 .
– The dip coincided with mass token unlocks (133 million PI in February alone), geopolitical headwinds, and a broader crypto market downturn .
– While KYC and migration upgrades improved processes, these technical fixes failed to restore price confidence .
– Attempts at recovery saw a brief rebound to $0.17 following the reactivation of 2.5 million blocked users—but resistance capped gains short-lived .
Further compounding pressure:
– As of late January 2026, daily Pi unlocks (~4.6 million tokens) kept flooding the market, while low liquidity and weak demand suppressed upward momentum .
– A bearish technical breakdown loomed: weekly charts showed Pi trading under its long-term Gaussian channel, with risk of sinking below $0.05 if $0.15 support broke .
Forecasts: From Moonshots to Modest Growth
Analysts diverge when projecting Pi Coin’s future:
– Aggressive forecasts suggest Pi could one day swell to $500–$1,000 by 2030—implying jaw-dropping returns of over 100,000%—if ecosystem adoption and global relevance materialize .
– More sober models estimate modest improvements—like $0.55 by year-end or $1.30 under highly favorable conditions—but even these seem optimistic against current inertia .
The disparity underscores how price narrative pivots on speculative optimism versus growing market fatigue.
Conclusion: Where Does Pi Coin Stand Now?
Pi Network has indeed launched—its transition to an open mainnet is complete, and Pi Coin trades on several exchanges. But the reality since launch is sobering: initial spikes gave way to sustained decline fueled by oversupply, fragile liquidity, limited real-world usage, and cautious exchange interest.
Here’s the current picture:
– Pi Coin is down 93% from its peak and languishes near multi-year lows.
– Supply inflation from scheduled unlocks continues to swamp demand.
– Technical indicators warn of deeper downside unless adoption and listing momentum return.
– Forecasts range from moonshot optimism to modest recovery, showing no consensus amidst volatility.
If you’re tracking Pi, focus on tangible catalysts: major exchange listings, ecosystem adoption, dApp growth, and inflation control measures. Without these, price remains hostage to speculation and macro sentiment.
FAQs
What triggered the initial surge in Pi Coin’s price?
The announcement of the open mainnet on February 20, 2025, sparked speculative buying. Prices surged 36–70% on some platforms before rapidly correcting, driven by hype and limited early supply.
Why did Pi Coin drop so dramatically after launch?
Widespread sell-offs by early miners, lack of liquidity, and volatile market trading drove sharp declines. Prices fell from over $2 to under $1 in the days following launch.
How do token unlocks impact Pi Coin’s price now?
Massive daily unlocks flood the market with new supply, creating persistent sell pressure. This ongoing supply increase, without matched demand, has been a primary driver of the prolonged downtrend.
Has Pi Coin recovered recently?
No, recent attempts at rebounds have faltered. Technical charts show Pi under bearish pressure, with broken support levels and no sustainable volume to force a turnaround.
Could Pi Coin still reach $500–$1,000 by 2030?
While some optimistic models suggest dramatic returns contingent on ecosystem growth and adoption, such outcomes remain speculative and highly uncertain.
What would help Pi Coin turn around?
Meaningful adoption, feasibility of use cases, stronger exchange listings (like Binance), reduced token inflation, and clear utilities are essential to rebuilding price confidence.