Pi Network’s Price Plummets Despite Surpassing 120 Million Downloads – What’s Going On?

Jakarta, Pintu News – Pi Network (PI) has caught the attention of many with its rapid growth, but is now facing major challenges in its price movement.

After experiencing a fairly long consolidation phase, the price of Pi Coin still doesn’t seem to be able to record a significant surge. Although the Pi Network continues to grow at a rapid pace, many are beginning to question the future direction of this project, especially when the Pi Coin price is stuck in a downward trend.

Pi Network Price Drops 1.7% in 24 Hours

On May 7, 2025, the price of Pi Network (PI) was recorded at $0.5787, having decreased slightly by 1.7% in the last 24 hours. If converted to the current rupiah ($1 = IDR 16,526), then 1 Pi Network is IDR 9,563.

Read also: Pi Network Shows Signs of Recovery, Crypto Traders Optimistic PI Coin Headed for $1 Rally?

During this period, the price of PI fluctuated between $0.572 to $0.5892. Despite the decline, the 24-hour trading volume was quite high, reaching $57,065,620, indicating significant market activity.

With a market capitalization of $4,075,146,290 and a total circulating supply of 7,043,458,340 PIs, Pi Network remains one of the eye-catching cryptos, despite the current slight price drop.

Pi Network Has Been Downloaded Over 120 Million Times

Pi Network has now been downloaded more than 120 million times worldwide. In the last 30 days alone, the network has gained 1.3 million new users – a strong sign that interest in decentralized finance is growing globally.

The project, started by PhDs from Stanford, has over 55 million members and aims to create a fair and open financial system for everyone.

In other news, Banxa has received K.Y.B (Know Your Business) approval to sell Pi Coin globally. This is great news, as it opens up opportunities for buying and selling Pi around the world.

According to reports, Banxa had previously purchased Pi for over $30 million, and now plans to sell it globally.

Pi Coin Price Fails to Respond?

However, the Pi Coin (PI) price is currently under pressure. The price of this coin has been stuck in a consolidation phase for about 40 days and is now trading slightly above $0.57.

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Pi Coin needs to reclaim the $0.60-$0.62 price range with strong volume to regain momentum.

According to Coinpedia (6/5/25), technical indicators show weakness: The price is below the 10, 20, and 50-day moving averages, the RSI is close to 40 (indicating weak buying interest), and the MACD shows no signs of bullish reversal. Traders remain cautious while the main token opening continues.

Pi Coin launched at around $2 and quickly rose to $2.90. Pi Coin was listed on five exchanges and even appeared in the top 11 on CoinMarketCap. However, after that, the price dropped and fell as low as $0.40. Many began to doubt the project, even calling it useless.

Although network growth has been strong, the next few weeks will be crucial for the direction of Pi’s price movement. Nonetheless, for many in the Pi community, the long-term vision is more important than short-term price movements.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinpedia. Pi Network Hits 120 Million Downloads, Price Eyes $1. Accessed on May 7, 2025.