Pi Network price today has plunged to $0.45, despite Bitcoin soaring to a new all-time high of $122,000. The drop is largely due to a rapid increase in Pi’s circulating supply, weak demand, and low market liquidity. 

While Bitcoin enjoys the spotlight in this bull run, Pi Coin is struggling to keep up, and some in the community now fear the worst.

Why Pi Network Price Today Remains Low Despite Mainnet Growth?

Many Pi supporters admit they would love to see Pi hit $10 someday. But for this bull market, that dream is slipping further away. One of the biggest challenges facing Pi right now is the rapid increase in its circulating supply. 

With mobile mining rewards continuously being unlocked and more tokens migrating from testnet to mainnet, supply is growing faster than demand. This has led to over $37 million worth of Pi tokens getting migrated to the mainnet. 

But despite this growth, the price of Pi Coin is stuck near its lowest levels, trading around $0.45.

Low Liquidity and Developer Inaction Weigh Heavily on Pi Coin Value

The Pi community believes that rising supply, along with low market liquidity, is the main reason Pi is struggling to grow. There’s very little buying interest, and not enough liquidity to support price gains. 

On top of that, the project is facing criticism for limited support from the developer team. Many feel the Core Team is not giving enough space for community developers to contribute, which could be slowing innovation and shaking investor confidence.

Pi Coin Technical Analysis Signals More Downside Ahead

On higher time frames, the Pi price chart is showing lower lows, often a warning sign of further downside. When Bitcoin surged past $122,000 recently, Pi only touched $0.53 before crashing back down to $0.45.

However, Pi is currently trapped under the 0.382 Fibonacci retracement zone, suggesting it may continue to slide unless demand picks up. The next support lies around $0.40, a level which hasn’t been touched since the beginning of June.

Pi Coin Forecast: Recovery Ahead or a Prolonged Crypto Winter?

Despite the gloomy outlook, some see this dip as a rare opportunity. While others fear the end, a few view it as a time to accumulate. But with scammers outpacing community trust, engagement dropping, and more unlocks on the way, Pi’s short-term future looks shaky.

The question now is: can Pi recover from this deep correction, or is this the beginning of a longer winter?