While the broad crypto market shows a downward trend, losing almost 3% in the last 24 hours, the Pi Network (PI) token demonstrates rare resilience. Over the past 24 hours, the PI price has risen by 3.5%, making it one of the few assets in the "green zone" amid the general correction.
This growth coincided with the launch of a redesign of the Pi Network mobile app, designed for mining. Although the jump partially offset recent losses, it is worth noting that just a few days ago, the token updated its all-time low. At the time of writing this analysis, PI is trading around $0.078. However, over the past week, quotes are still down by more than 22%.
PI price bounces from the bottom
On July 14, PI reached its all-time low, dropping to the $0.071 mark. Since then, the token has recovered approximately 11%. Nevertheless, even with this bounce, PI remains 97% below its February 2025 peak, which was around $2.99. Over the month, the cryptocurrency has fallen in price by approximately 42%.
The key factor putting pressure on the price remains the growing supply. Currently, 10.9 billion PI are in circulation out of a maximum of 100 billion. This means we face a serious risk of value dilution ahead. According to PiScan data, approximately 4.25 million PI are unlocked daily, which at the current rate is equivalent to about $333,672. This constant influx of fresh coins exerts steady selling pressure on the price.
App update: temporary effect or trend reversal?
The redesign of the Pi Network app, which updated the side menu and profile page, is only the first part of a major update. The project team states that the new interface will allow users to access important account data and ecosystem services faster.
This redesign was released shortly before the Protocol v25 launch scheduled for July 22. The update is expected to make the network more stable and add smart contracts with enhanced privacy. Whether the new version can curb sales amid the supply surplus will be the main test for PI.
My expert assessment: The current growth is more of a short-term reaction to positive news rather than a reversal of the long-term trend. As long as pressure from unlocks and general market pessimism persist, it will be extremely difficult for PI to hold its positions. The key moment will come after July 22: if the protocol update does not stimulate real demand, we may see a new wave of decline.