Pi Network Loses $18B in Six Months: Is This the Biggest Rug Pull of 2025?

Pi Network price has fallen by more than 90% since its initiation in March and it has raised strong suspicion about the future of the project. The once-promising cryptocurrency, which surged to $2.79 after launch, is now trading at a mere $0.26.

Pi Network Rapid Decline: $18 Billion to Under $1 in Months

Pi Network’s market cap reached nearly $18 billion in March, fueled by hype and excitement. However, it quickly faced significant losses, shedding over $16 billion as its price fell below $1. The drop has been attributed to a series of unmet promises and broken expectations.

Mr. Spock, a well-known pseudonymous crypto commentator, claimed the 90% crash indicated a “rug pull,” a term used for projects that disappear after luring investors. This follows accusations from May, when Pi Network’s team allegedly created a $100 million venture fund. 

Market Sentiment and Broken Promises from Pi Network

Since its inception, Pi Network has been under constant scrutiny for its lack of transparency and unclear direction. Community members have raised concerns about the team’s failure to deliver on their promises after six years of development. 

Also Read: Google’s Gemini AI Predicts Big Gains for XRP, Pi Network, and SHIB

This dissatisfaction has been further fueled by the project’s increasing inflationary pressure. In just a few months, Pi Network’s circulating supply grew by over 1 billion tokens, exacerbating the bearish trend.

Speculative Interest in Pi Network Despite Market Downturn

Nevertheless, even as sentiment sours, there are still Pi tokens being acquired by some investors. More than $112 million worth of Pi tokens have left exchanges in the past 24 hours, indicating a buying frenzy. But, the general curiosity interest has decreased to tiny proportions.

Pi Network’s Open Interest (OI) dwindles Speaking of Pi Network, its recently open interest which was close to $120m is down at approximately $20m as per Glassnode data. The drop means there is little confidence in the project’s long-term future.

Technical Indicators Show Bearish Trends for Pi Network

Technicals are negative for Pi Network. Price is below the 50-day and 100-day EMAs which indicates that sellers are in control of the market.

There is also a strong resistance near $0.3223 level, where the double-bottom pattern was formed recently but invalidated. This implies continuation to the downside if price isn’t able to trade above this level.

Pi Network went to the downside in September and hit a new all-time low of $0.1838 before consolidating on resistance levels. At the time of writing, it is still trading below these 2 key levels, and they indicate that a breakdown below $0.1838 could lead to another slide towards $0.1500.

There is hope of a recovery provided Pi Network stays above the $0.3223 and breaks resistance; possibly, it will spur on short-term recovery. But that probably won’t happen unless demand and volume pick up.

Exchange Outflows Don’t Translate to Pi Network Price Strength

One reason for the measured optimism has been the flow of Pi tokens out of exchanges. More than 14 million PI tokens were removed this week from platforms like OKX, which many see as a sign of faith in the product.

That said, the complete lack of trading volume and demand for Pi tokens is a bigger concern, though, even if there is support from both retail and institutions. Pi Network average 24-hour trading volume is less than $30 million, much lower than most top cryptocurrencies.

The Road Ahead for Pi Network

Pi Network has a bleak future ahead of it if its team is unable to resolve the community’s question. Confidence is at rock bottom, and short of re-establishing trust in the project, it’s unlikely the price will recover anytime soon.

The price of Pi Network has been greatly affected by the increased dissatisfaction in community, and investment credibility. For the project to bounce back, it needs structural changes that improve operations and make themselves be known in order to first gain trust .

Conclusion

The price of Pi Network is going down, with lots of challenges ahead. Unfulfilled promises, increasing token quantity and lack of transparency are the reasons for the market sentiment fizzling out. If those concerns persist, price may continue to wobble.

Also Read: Pi Network Whale Accumulation Sparks Fresh Price Prediction Buzz

Summary

The price of Pi Network has dropped more than 90% since its launch in March, tumbling from $2.79 to $0.26 as users accuse the company of mismanagement and failure to fulfill promises made during development. 

While some investors continue to buy tokens, market sentiment and speculation have waned. Technical indicators are bearish, and Pi Network faces strong resistance. Without addressing community concerns and increasing transparency, the project’s future remains uncertain.

Appendix: Glossary of Key Terms

Rug Pull: A scam in which developers of a project suddenly disappear, leaving behind useless tokens/coins.

Open Interest (OI): The amount of unsettled derivative (futures contract) contracts.

Exponential Moving Average (EMA): A moving average that places a greater weight and significance on the most recent prices.

Circulating Supply: The issued amount that is already available on the market and circulating among the public.

Resistance Level: A specific price point above which it becomes difficult for a particular security or market to rise.

Market Capitalization: The price of a cryptocurrency multiplied by the circulating supply.

Frequently Asked Questions About Pi Network Price

1- What is Pi Network’s current price?

As of the latest update, Pi Network price is $0.26, reflecting a dramatic decline from its peak of $2.79 in March.

2- Why has Pi Network price dropped so much?

Pi Network price has dropped over 90% due to broken promises, unmet expectations, inflation, and allegations of mismanagement, including the misuse of a $100 million fund.

3- Can Pi Network recover from its price decline?

Pi Network price could potentially recover if it breaks above key resistance levels and if there is a significant increase in market demand. 

4- What are the technical indicators for Pi Network?

Technical indicators show a bearish outlook for Pi Network, with the price trading below key moving averages and facing resistance at $0.3223. 

Read More: Pi Network Loses $18B in Six Months: Is This the Biggest Rug Pull of 2025?">Pi Network Loses $18B in Six Months: Is This the Biggest Rug Pull of 2025?