Pi Network (PI) Price Drops 19.2% Today as Market Reacts to US-China Trade War News

Despite today's significant drop, a few days ago, amid a broad market recovery due to trade talks between the US and China

The price of Pi Network (PI) dropped 19.2% in the last 24 hours to reach $1.03 by 10:45 AM (GMT+8) on 13 May. This brings the token price to around IDR 17,016 if converted to the current rupiah rate ($1 = IDR 16,520).

Today's drop is quite significant considering the PI token briefly touched a daily high of $1.62, before dropping back down to the lower range at $0.9263.

However, Pi's 24-hour trading volume was quite high, at over $2 billion ($2,044,817,219). This shows that despite the price decline, interest in the token is still very high, with a lot of buying and selling activity taking place in the market.

In terms of market capitalization, Pi Network ranks #26 with a market cap of $7,247,031,176 and a fully diluted valuation of over $11 billion.

FOMO Drives Pi Network Price Increase

A few days ago, amid a broad market recovery due to trade talks between the U.S. and China, digital assets saw a surge in value, and Pi Network's price increase was part of that trend.

Experts believe that this spike is driven by FOMO (Fear of Missing Out), as investor sentiment is quickly shifting to become more positive ahead of upcoming updates in the Pi ecosystem.

In a post on May 8, Pi Network announced that there would be an ecosystem-related announcement on May 14.

A Pi ecosystem announcement will be released on May 14. Tune in to find out what's coming next! pic.twitter.com/5jn7m5mlmD

While there is no official information on what will be announced, investors expect it could be the long-awaited listing on Binance, or something equally positive.

This has led many observers to start buying Pi Coin in the hope that there will be a price increase rally.

Is the Pi Network Mainnet Launch Coming Soon?

There are no guarantees about what Pi Network's announcement on May 14 will bring, but investors are hoping for news of a listing on Binance or the launch of the mainnet.

To add to the anticipation, Pailot-an app that bridges logistics technology and Web3-revealed that they are preparing the Pailot app for review by Pi's core team ahead of the upcoming ecosystem listing.

Stay updated on #PiNetwork potential and bullish trends in 2025➤ #PiNetwork24X7 🔔https://t.co/6lIJchApWy

If this does happen, the price of Pi Coin is predicted by experts to reach new highs. Crypto TA King mentions that important resistance levels are around $1.39, $1.69, and $2.00.

If this bullish momentum continues, Pi prices could potentially reach $1.7 amidst the FOMO euphoria ahead of the May 14 announcement.

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After a brief touch of $1.62, the price of Pi Network (PI) dropped to the lower range at $0.9263. Still, the token saw a 19.2% decrease in the last 24 hours to reach $1.03 by 10:45 AM (GMT+8) on 13 May.

If converted to the current rupiah rate ($1 = IDR 16,520), then 1 Pi Network is IDR 17,016.

This brings the 24-hour trading volume of the token to over $2 billion, showing that despite the price decline,