Pi Network (PI) Coin Price Drops Below $1 as the Market Reverses Earlier Gains

Pi Network coin price is back below the $1 price mark, after a brief sojourn above the level.

Pi Network coin price is back below the $1 price mark, after a brief sojourn above the level.

PI coin price is currently trading at around $0.87, days after the token rallied to a multi-week high near $1.7 on May 12. The reversal came as Bitcoin (BTC) price neared the $104,000 mark on May 16, but failed to hold the price mark.

The inability of the flagship cryptocurrency to break out of the $100,000-$104,000 range saw some selling pressure emerge, dragging down most altcoins in the process.

Ethereum price also showed signs of life as bulls pushed it above the $2,600 threshold, though its ability to hold those levels remains uncertain.

Meanwhile, PI coin price’s recent crash came on the back of a much-hyped announcement that did not deliver on any of the speculations surrounding it.

While speculation continues to swirl around the network’s future plans, PI coin has failed to benefit from the broader market’s modest recovery. Memecoins and high-beta assets led much of the short-term bounce, while tokens like PI remain largely sidelined.

On the macro front, easing U.S. inflation figures have reignited risk appetite across asset classes, with the 10-year Treasury yield slipping below 4.3% and equity markets posting weekly gains.

However, Federal Reserve officials, including Chair Jerome Powell, have reaffirmed their cautious stance, signaling that rate cuts remain off the table for now.

Moreover, global growth projections have weakened, with rising geopolitical risks and persistent trade imbalances tempering optimism.

Against this backdrop, traders would likely scrutinize Pi Network’s recent moves closely as market participants look for real signs of traction, not just speculation.

Resistance Mounts After Sharp Post-Event Rejection

Pi Network’s PI coin price lost a key momentum node after a sharp rejection on May 14, the day of its highly anticipated announcement. The move left traders disappointed, triggering a nearly 37% intraday wick that stalled the recent bullish breakout.

PI coin price failed to hold above the 0.618 Fibonacci retracement level, which sits near $0.98. That level now acts as the immediate resistance. Flipping the immediate resistance would target the next barrier at around $1.14, which coincides with the 0.786 Fib level.

Support is visible at the 0.382 Fib level, which lies at around $0.76. Losing this level could accelerate downside pressure. A stronger floor for the token lies at $0.62, aligning with the 0.236 retracement and April consolidation zone.

The daily RSI is reading at around 54, indicating neutral momentum. However, volume has dropped sharply since the May 14 candle, suggesting that interest is waning. Bulls weren’t able to defend post-event price levels, and sellers quickly took back control.

Unless PI manages to reclaim the $0.98-$1.13 resistance band, the structure favors a deeper retracement. The market seems to be pricing in doubt rather than optimism, and the failed breakout creates a local top for now. Short-term recovery seems unlikely without a strong volume spike or an external catalyst.

Inside the Pi Ventures Announcement and the Community’s Harsh Reaction

On May 14, 2025, Pi Network unveiled a $100 million ecosystem initiative named Pi Ventures. The fund will support startups building real-world applications using Pi Coin. It aims for sectors like AI, fintech, gaming, and blockchain to accelerate utility. This initiative draws resources from both USD and Pi tokens, taking a 10% allocation from the Pi Foundation’s reserves. The Foundation governs Pi’s long-term growth and manages its 100 billion token supply.

Pi Ventures complements Pi’s recent Open Network rollout, allowing external developers to integrate Pi into apps and services. The team plans the first funding round in Q3 2025. It will prioritize startups focused on transactional use cases and frictionless user experiences.

The Core Team framed this initiative as part of a shift from mining to sustainable utility. They highlight ecosystem health over speculative gains, reflecting Pi’s “ownerless” structure.

But the community’s reaction was largely negative, viewing the announcement as a letdown after years of waiting. One Pi Coin fan described the update as disappointing, especially considering the lack of exchange listing rumors. A Pioneer expressed frustration, stating that the Core Team should prioritize user loyalty and sentiment.

One trader called it a betrayal of the 70 million-strong community, highlighting the resulting disappointment and a ‘sell the news' rally that crashed Pi Network token price today. Some users blamed the countdown hype for fueling the price downfall