Pi Network (PI) Token Drops Sharply Ahead of Consensus 2025 Event

Pi Network's native token, PI, has dropped sharply in recent days, falling to around $0.86 on May 16 as many anticipate a price rebound

Pi Network's native token, PI, has dropped sharply in recent days, falling to around $0.86 on May 16 as many anticipate a price rebound amid growing catalysts.

Pi Network (PI) has now dropped over 40% from its weekly peak of $1.57 and is more than 71% below its all-time high of $2.99, which was reached in late February. The latest drop came despite what appeared to be a major development.

On May 14, the Pi Foundation announced a $100 million venture fund aimed at supporting startups in areas like AI, gaming, fintech, and e-commerce. The initiative hopes to boost real-world use of the Pi ecosystem, but the market reaction was negative.

Many traders had anticipated a major exchange listing, which would have brought significant liquidity and price discovery. The news likely triggered a “sell the news” response from the market because there was no listing in sight.

Looking at the technical picture, PI is still has breached the $0.89 support level, which was acting as a crucial floor in the recent decline. At about 54, the relative strength index indicates neutral momentum.

While short-term moving averages remain weak, longer-term trends that span 20 to 50 days show some underlying strength. The overall trend remains unclear despite some indicators showing early signs of recovery and a slightly bullish moving average convergence divergence.

Several upcoming events may shift the narrative. The project's founder, Dr. Nicolas Kokkalis, is scheduled to speak at Consensus 2025, a major blockchain event.

Rumors suggest that the team may use the event to unveil a network decentralization plan. Another significant update is the deactivation of the core node of the Pi Network, signaling a move toward a more open system.

Meanwhile, there is ongoing speculation regarding possible exchange listings. Strong community support and wallet activity linked to Binance have fueled expectations that PI will soon list on a major platform.

Despite the lack of a formal listing announcement, such a move could bring much-needed liquidity.

One concern that continues to put pressure on the price is token supply. Over the next 12 months, an estimated 1.47 billion PI tokens are set to be unlocked. This could exert downward pressure on the market if it's not met with sufficient demand.

Many users are calling for a token burn, which could help reduce selling pressure if implemented.

If Pi Network delivers key updates at Consensus 2025 and confirms a path toward decentralization or listings, the price could recover above $1. Failure to meet expectations may push it back toward $0.75.