While the global crypto market is correcting downward by nearly 3%, the Pi Network (PI) token is showing rare strength. Over the past 24 hours, the coin has risen by 3.5%, reaching around $0.078. This surge has partially offset recent losses, even though just a few days ago PI was hitting an all-time low.
Technical Bounce from the Bottom
On July 14, PI dropped to $0.071 — an absolute low since its listing. Since then, the token has recovered approximately 11%. However, even with this bounce, the asset is trading 97% below its February 2025 peak of around $2.99. Over the past month, PI has lost about 42% of its value, indicating sustained selling pressure.
A key vulnerability factor is the growing supply. Currently, 10.9 billion PI are in circulation out of a maximum of 100 billion. Approximately 4.25 million coins are unlocked daily, equivalent to about $333,672. This constant influx of fresh tokens creates strong resistance to price growth.
App Update as a Catalyst
The price increase coincided with the launch of a redesign of the Pi Network mobile mining app. Developers updated the side menu and profile page, which they say should speed up user access to key ecosystem services. This is the first part of a major update preceding the launch of Protocol v25, scheduled for July 22.
The new protocol version promises to enhance network stability and introduce smart contracts with enhanced privacy. These updates could be a decisive factor for future token demand. If the updated ecosystem attracts real users and developers, selling pressure may ease.
My assessment: For now, PI remains a purely speculative asset, whose price depends on unlock flows and news sentiment. The July 22 update is a litmus test for the project. If the redesign is followed by real utility, rather than just cosmetic changes, PI may have a chance at sustainable growth. But for now, the fundamentals are far from bullish.