Pi Network (PI) challenges the market: +3.5% amid app update and dilution threat
While the entire cryptocurrency market is down nearly 3%, the Pi Network (PI) token is showing an anomalous growth of 3.5% in the last 24 hours. This bounce is not just a coincidence, but a direct reaction to the release of the redesigned mining application. At the time of analysis, PI is trading around $0.078, partially recovering from its recent drop to an all-time low.
Price Bounced from the Bottom, but Pressure Remains
On July 14, PI updated its absolute minimum, crashing to $0.071. Since then, the token has recovered about 11%, but this is just a drop in the ocean compared to the February 2025 peak of $2.99 — the current price is more than 97% below those levels. Over the past month, the coin has lost about 42% of its value.
The key pressure factor is the growing supply. Currently, 10.9 billion PI are in circulation out of a maximum of 100 billion. Approximately 4.25 million PI are unlocked daily, equivalent to about $333,672 at current prices. This constant influx of fresh coins creates a strong backdrop for sellers, making the already weak altcoin extremely vulnerable.
Redesign as an Attempt to Reverse the Trend
The Pi Network team has updated the side menu and profile page in the application — this is the first part of a major redesign. According to the developers, the innovation simplifies navigation and speeds up access to key ecosystem services. The release came shortly before the launch of Protocol v25, scheduled for July 22. The protocol update is expected to increase network stability and introduce smart contracts with enhanced privacy.
My view: The redesign and upcoming update are positive signals for the ecosystem, but they do not solve Pi Network's main problem: the colossal pressure from unlocks. Whether the growing utility of the network can outweigh the flow of new coins, we will see after July 22. For now, PI remains one of the riskiest assets on the market with fundamentally weak price support.