As of September 15, 2025, according to the latest data from Gate, the current price of Pi Network (PI) is $0.3469. In the past 24 hours, the price has fluctuated by -6.56%, with a trading volume of $10 million. The current market capitalization of PI is $2.81 billion, accounting for 0.1% of the cryptocurrency market.
This price level has dropped over 80% compared to the historical high of nearly $3 for Pi Network. The market is in a mix of caution and fear, with the Fear and Greed Index showing 47.
01 Price Data Deep Analysis
The market performance of Pi Network shows high volatility. Apart from the current price, its 24-hour high reached $0.3771, while the low dipped to $0.3422.
Compared to historical data, the PI price has risen by 3.86% in the past 7 days, but it has still dropped by 5.74% in the past 30 days. From a longer-term perspective, the price has dropped to zero by nearly 79% compared to the same period last year.
The token supply is an important factor affecting the price. Currently, the circulating supply is approximately 8.09 billion PI, the total supply is 12.44 billion PI, and the maximum supply reaches up to 100 billion PI.
This means that only about 8% of the tokens have entered the market, and a large number of unreleased tokens hang like the sword of Damocles, potentially exerting downward pressure on the price at any time.
02 Technical Analysis of Market Trends
From a technical analysis perspective, the price of Pi coin is at a critical technical juncture. PI is currently undergoing tight consolidation within a descending triangle pattern.
The support level is between $0.344 and $0.347, while the resistance level is between $0.352 and $0.368. The Relative Strength Index (RSI) is hovering around 44, below the midpoint, indicating that the current buying pressure is relatively weak.
The Moving Average Convergence Divergence (MACD) indicator shows slightly optimistic signs, as it remains above its signal line, suggesting that there may be a potential bullish reversal in trend momentum.
The analysis of the Wyckoff theory indicates that PI may be in the "accumulation phase," where prices are consolidating sideways in a low-volume environment, which often prepares for the subsequent possible "markup phase" (i.e., a big pump in prices).
03 Key Factors Affecting Price
The Pi Network ecosystem has recently welcomed several developments. The V23 protocol upgrade is scheduled for September 15, and this event has become a key catalyst for market attention.
This upgrade introduces a decentralized KYC process and Linux node support, marking an important step forward for the project in terms of scalability and compliance.
At the same time, PiOnline, as an application that integrates gaming and DeFi functions, supports staking and DAO governance, and its launch has received high recognition from the community.
Pi Network will also be a gold sponsor at the Token2049 conference held in Singapore, and co-founder Dr. Fan Chengdiao will give a speech from October 1 to 2, which will significantly enhance the project’s presence in Web3 global recognition in the field.
However, the large-scale token unlock remains a sword hanging over the price. September will witness the largest PI unlock plan in history, with approximately 13.2 million PI tokens added to circulation on the 21st, and it is expected that over 130 million tokens will be released in the next 30 days.
Such a "surge in supply" may stimulate long-term holders to sell off, creating downward pressure.
04 Polarization of Market Participants
Although the overall market sentiment is cautious, the movements of "smart money" are worth paying attention to. Data shows that a large whale investor continues to buy PI.
The mysterious whale wallet "GAS…ODM" has accumulated over 350 million PI tokens, worth more than 124 million USD. It is reported that another major shareholder controls over 373 million PI tokens.
This large-scale accumulation usually indicates the confidence of major investors and prompts some analysts to speculate that Pi may be in the Wyckoff accumulation phase, which could signal a significant rebound in the future.
However, the concentration of positions in centralized exchanges also poses potential risks. Currently, approximately 440 million PI are stored on various trading platforms, with nearly half concentrated on Gate.
If a large amount of assets is transferred from personal wallets to exchanges, it usually indicates that investors are preparing to sell, intensifying market pressure.
05 Price Prediction: The Battle of Optimism and Pessimism
There is a significant divergence in analysts’ predictions regarding the future price of Pi Network, reflecting the uncertainty of its future.
Some AI tools predict different scenarios. ChatGPT analysis shows that if the current market atmosphere continues, and the technological development of the Pi Network ecosystem continues to advance, PI is expected to reach $0.47 in the short term.
However, ChatGPT also warns that if it drops below $0.34, it may fall back to $0.30. Grok, on the other hand, holds a positive view, predicting that if market sentiment turns more positive, PI could have the opportunity to challenge the level of $0.5 in the short term.
Perplexity’s basic prediction is that PI will maintain around $0.42, and in an optimistic scenario, it could even rise to $0.75. However, regarding some community users who are optimistic about PI reaching above $1, Perplexity believes that a significant external incentive would be necessary for that to happen.
However, not all opinions are so optimistic. About 50% of experts believe that the price of Pi Network could crash in 2026, and it may even drop to zero, due to reasons including lack of utility, weak adoption rate, ongoing supply pressure, and loss of community momentum.
06 How should investors make decisions?
When facing investment opportunities in Pi Network, decisions should be based on a comprehensive understanding of its opportunities and risks.
Pi Network has a large user base of over 50 million, which is one of its biggest community advantages. If the ecological development goes smoothly and large-scale application conversion is achieved, its network effect could be very significant, providing strong support for price formation.
The low-threshold mobile mining model and the potential for future ecological applications are its core value propositions. If the project can successfully implement its roadmap, there is room for value to rise.
However, the risks cannot be ignored either. High volatility is an inherent characteristic of cryptocurrencies, and PI is no exception. Factors such as a large supply of unreleased tokens, progress in the mainnet, and the regulatory environment can all significantly impact prices.
Currently, the mainnet of Pi Network is not fully open, and the real price mechanism in the market has not yet fully started. Although there are visible market prices on exchanges, most users holding Pi through the application cannot directly sell or withdraw, which makes the valuation of Pi somewhat resemble a "community confidence index."
Future Outlook
Whale activity shows that large investors are still accumulating PI, with the mysterious wallet "GAS…ODM" holding over 350 million PI, worth over $124 million. However, approximately 159.5 million tokens are unlocked daily, leading to a continuous increase in supply.
Price outlook shows significant divergence, with AI predictions ranging from $0.47 in the short term to $0.75 in optimistic scenarios, but some analysts also warn of the risk of dropping to zero. Future trends will depend on whether Pi Network can deliver on its technological promises and whether community confidence can translate into real application demand.
