- Pi Network dropped over 90% in 2025 after its mainnet launch, facing heavy selling pressure despite ecosystem upgrades and partnerships.
- It’s 17.5 million KYC-verified users, and upcoming smart contract capabilities could drive a potential recovery in 2026.
Pi Network (PI) endured a turbulent 2025, dropping over 90% from its all-time high of $3.00 following its mainnet launch in February. Despite early optimism, heightened selling pressure and low investor confidence pushed the coin into a steep decline. With 17.5 million KYC-verified users now part of the network, Pi’s focus on real-world applications could set the stage for a potential recovery in 2026.
Mainnet Launch and Initial Setbacks
Pi Network’s mainnet release on February 20, 2025, saw PI listed on multiple KYC-verified exchanges, including OKX, Bitget, MEXC, Gate.io, and Pionex. The token briefly surged to $3.00 on February 26, but selling pressure soon dominated. Pi Day 2025, held on March 14, marked a 7% drop, while March saw the steepest monthly decline of over 66%. Public appearances by co-founders Nicolas Kokkalis and Chengdiao Fan, including Consensus 2025 and a Seoul meetup, coincided with further price drops of 42% and 19%, respectively.
Ecosystem Upgrades and Partnerships
Despite setbacks, Pi Network advanced its ecosystem with several initiatives. The testnet 1 upgrade to Stellar protocol version 23, enabling smart contracts, is scheduled for full deployment in 2026. Pi also launched its first hackathon, generating 215 applications, including Blind_Lounge, Starmax, and RUN FOR PI. On the gaming front, a partnership with CiDi Games will integrate PI as an in-game currency, with testing set for early 2026.
Price Outlook and Technical Signals
Currently trading slightly above $0.20, PI faces key support at $0.1924 and $0.1533, with an extreme bearish scenario testing the $0.10 listing price. Technical indicators show some potential for recovery, a double-bottom reversal at $0.20, rising RSI, and improving MACD could target resistance levels of $0.40–$0.50. Price forecasts for 2026 vary: conservative estimates range from $0.35–$0.75, moderate projections $0.75–$2.00, and bullish scenarios exceeding $2.00, contingent on adoption, ecosystem growth, and regulatory clarity.
Challenges Ahead
Pi Network’s growth hinges on improved communication, transparent tokenomics, and effective execution of mainnet upgrades. Upcoming token unlocks in 2026, totaling 1.21 billion PI, could add selling pressure, while mandatory KYB verification limits listings on tier-1 exchanges like Binance.
Pi Network remains a high-risk, high-potential project. Its 17.5 million KYC-verified users and upcoming smart contract capabilities offer a path toward real-world utility. Success in 2026 will depend on adoption, regulatory clarity, and delivering tangible use cases to reignite investor confidence.
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