Pi Network's PI token fell to a new all-time low of just over $0.063 on Monday, according to CoinMarketCap data, as the broader cryptocurrency market experienced a sharp decline. The asset dropped more than 13% in the past 24 hours and nearly 20% over the past week.
The previous all-time low for PI was in June, when the token fell to just over $0.070 before finding support. It took roughly five months for PI to chart a new low. The token attempted a rebound in the following months, peaking at $0.11 after a mid-August rally, but it quickly retreated and has not surpassed $0.10 since.
Market Cap and Broader Decline
Following the crash, PI's market capitalization dropped to $720 million, making it the 69th-largest cryptocurrency by that metric on CoinMarketCap. The asset has shed almost 98% of its value since its all-time high of $2.98 in late February 2025.
The broader market also headed south on Monday, with BTC falling below $74,000 for the first time in almost three months and ETH slipping below $2,100.
Community Commentary
Members of the Pi Network community offered perspectives on the crash on X. One user noted that 61% of trading volume in the past day was sales compared to 39% buys, and that the average daily unlock remains at around 6.5 million tokens, which intensifies selling pressure. The user also pointed to low volume and the absence of major exchange listings such as Binance or Coinbase as factors contributing to the new all-time low, along with broader market weakness.
Another community member argued that any attempt by the Pi Network team to hold major events or publish new updates will be met with another price drop and a macro low. They further predicted that PI will eventually fall to $0.05, stating that the Core Team does not understand the ground reality.
Upcoming Ecosystem Summit
The next major event for Pioneers is the Ecosystem Summit, scheduled for November 17-19. The event was announced at the start of the month, with further details provided over the weekend. It will feature platform launches, technical demos, and a hackathon with a $200,000 prize pool. The summit will stream live on YouTube and will focus on developer initiatives, AI integration, and ecosystem showcases over the three days.
