The PiCoreTeam token (Pi) has been under bearish pressure since the middle of May following a failed attempt to recover its bullish momentum. The cryptocurrency has slipped below crucial support, leading analysts to question how soon the crypto asset can regain sustainable demand.
According to data from TradingView at the time of writing, Pi traded for $0.6270 is close to its historical lowest price and below its opening price at launch. The cryptocurrency’s latest trajectory contradicts users’ expectations, considering the hype that preceded Pi’s introduction into the crypto market and the initial price surge the crypto asset experienced.
The Path of Pi on Charts
TradingView’s data reveal that Pi surged 380% within one week of an official launch. A sharp decline followed the initial rally, and the cryptocurrency lost all gains in a month. Pi reached its lowest point on May 5, 2025, after the price crashed to $0.4000. The bearish pressure lasted over four weeks, as the crypto token maintained a sideways trend.
A one-week rally saw Pi surge 190% in the middle of May to reach $1.6699. During that period, the market regained hopes and placed expectations over the digital asset’s trajectory. Contrary to expectations, Pi succumbed to another round of bearish pressure.
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Pi Network’s Current Moves
The cryptocurrency’s latest move seems critical, considering how it has fallen below crucial support and shows no signs of immediate recovery. Pi fell below the $0.86 support on May 16, despite the Pi Foundation’s announcement of a $100 million venture fund to support projects in AI, fintech, gaming, and e-commerce.
However, Pi’s price at the time of writing reflects an 80% decline from its February all-time high. Such price behavior is typical of what crypto assets experience during acute bear markets, leaving users worried over the crypto asset’s future.
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