Pi Network’s native token, PI, has seen a sharp downturn, plummeting to approximately $0.86 on May 16, marking a more than 40% drop from its recent high of $1.57. This dramatic decline comes even as the network announced significant developments aimed at bolstering its ecosystem. PI is now trading over 71% below its all-time high of $2.99 recorded in February 2025, leaving many investors and community members disappointed and hopeful for a reversal.

On May 14, the Pi Foundation unveiled a $100 million venture fund focused on backing startups in promising sectors like artificial intelligence, fintech, gaming, and e-commerce. The fund is designed to fuel real-world applications of the Pi ecosystem and drive broader adoption. However, the market did not respond positively to the announcement, with traders instead reacting with a sell-off. Analysts suggest that many investors were expecting a more impactful update—such as a major exchange listing.

The absence of an exchange listing likely triggered a classic “sell the news” scenario, causing prices to slide further. From a technical standpoint, PI has now breached the key support level at $0.89. While the Relative Strength Index (RSI) sits at a neutral 54, indicating a lack of momentum in either direction, long-term indicators like the 20- and 50-day moving averages hint at some latent strength, leaving the trend outlook uncertain.

Looking ahead, several events could be potential catalysts for recovery. Dr. Nicolas Kokkalis, the founder of Pi Network, is set to speak at Consensus 2025—a major blockchain summit. Rumors suggest the team might unveil plans to decentralize the network and deactivate the current core node, a major milestone that could enhance credibility and decentralization in the project.

Another major driver of speculation is a possible listing on a top-tier exchange. Increased wallet activity and links to Binance have fueled optimism among the community. A confirmed listing could dramatically improve liquidity and price discovery for PI, although no formal announcement has been made yet.

Despite these growth opportunities, concerns over token supply remain a key issue. Over the next year, around 1.47 billion PI tokens are expected to be unlocked. Without sufficient demand, this influx could apply downward pressure on the token’s price. Community members are advocating for a token burn to counterbalance supply concerns and restore investor confidence.

The path forward for Pi Network hinges on delivering results. If the team successfully leverages Consensus 2025 to showcase real progress and announces meaningful updates, PI could reclaim the $1 mark. Conversely, failure to meet expectations could see the token fall further, potentially testing the $0.75 level.