Pi Network has shed nearly a third of its value in a single week, with the downward spiral showing few signs of abating as investor interest wanes. The cryptocurrency, which began its descent in early March, has accelerated its losses in recent days amid a sharp decline in trading activity.
Data from market analysis platforms shows Pi currently trading at $1.17, representing a 32% decline over the past seven days. The modest 1% uptick recorded in the last 24 hours appears to lack substantial backing, coinciding with broader market movements rather than renewed interest in the token itself.
"When an asset's price rises while trading volume declines, it suggests that the upward movement lacks strong buyer participation," noted market analysts tracking the cryptocurrency. This pattern typically indicates a rally that is "weak or unsustainable" without fresh capital inflows.
Trading volume for Pi has contracted significantly, totaling $366 million during the review period — a 37% decrease that signals diminishing market engagement. Analysts suggest this reduced activity points to a narrowing investor base unable to sustain even modest price increases.
Technical indicators reinforce the negative outlook. The BBTrend indicator, which measures momentum relative to Bollinger Bands, remains deeply in negative territory at -32.45 when observed on a four-hour chart. This marks the lowest reading since Pi's launch.
Market technicians explain that negative BBTrend values indicate downtrends, with prices trading closer to lower Bollinger Bands under persistent selling pressure. The exceptionally low reading suggests the current decline represents more than a temporary correction.
Pi currently maintains precarious support at the $1.11 level, a threshold closely watched by traders and investors. Should selling pressure intensify, analysts project the token could fall further to approximately $0.87, representing another significant devaluation.
The alternative scenario would require a substantial shift in market sentiment and fresh demand. Under those conditions, Pi could potentially recover toward the $1.34 resistance level, though current trading patterns provide little evidence for such a reversal.
Pi's struggles mirror challenges faced by numerous alternative cryptocurrencies in recent months, though its 32% weekly decline exceeds the losses seen in many comparable digital assets. The pronounced selling appears concentrated among existing holders rather than new short positions. Cryptocurrency traders continue monitoring volume indicators for any signs of capitulation or renewed interest that might signal a potential trend reversal, though bearish sentiment currently dominates market discussions surrounding Pi Network.