Pi Network’s native token has entered uncharted territory – and not in a good way. Amid a broader crypto market downturn, Pi has fallen to a new all-time low of $0.1312, shedding nearly 35% of its value in just a month. While major cryptocurrencies like Bitcoin and Ethereum are showing early signs of recovery, Pi continues its relentless downtrend, with no meaningful bounce in sight.
Looking at the past few months, the chart tells a bleak story: Pi has been on a steady, uninterrupted decline, sliding from above $0.20 in early January to where it is now, with barely any short-term rallies along the way.
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Kraken Roadmap Offers Hope – But No Guarantee
This week, Pi saw a brief flash of hope when Kraken, one of the largest U.S. exchanges, added Pi to its 2026 asset listing roadmap. While the inclusion sparked speculation across the community, it’s worth noting that this is not a confirmation of a spot listing – rather, it signals that Kraken may consider Pi in the future, subject to liquidity, compliance, and technical reviews.
Kraken had previously launched Pi perpetual futures in 2025, allowing traders to take long and short positions without actual spot listings. The latest roadmap update is seen as a step forward, but it has not translated into any price action. If anything, the continued decline suggests investor confidence remains low.
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Token Unlock Schedule Raises Red Flags
Adding to the bearish sentiment is a worsening token unlock schedule. According to PiScan data, unlocking has significantly accelerated this month, with over 8.4 million tokens unlocked daily on average – nearly double the rate seen in late 2025.
In particular, the next three days will see a combined total of nearly 60 million tokens released into circulation, including a record 23.6 million on February 13 alone. While not all of these will necessarily be sold immediately, the influx of supply raises serious concerns about further downside, especially given the already weak demand.
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Can Pi Hold Above $0.13?
With the $0.15 support broken last week, and no signs of a reversal, Pi appears to be in a price discovery phase. The next psychological level sits at $0.10, which also happens to be Pi’s initial listing price on some exchanges. Unless sentiment shifts or a major listing is confirmed, the path of least resistance remains down.
While the broader market may eventually lift all boats, Pi’s unique issues – including high unlock rates, lack of top-tier exchange access, and rising community skepticism – continue to undermine recovery efforts.
