Pi Network (PI) Daily Market Analysis

Pi Network Mainnet Migration Accelerates Amid Token Unlock Pressure

Pi Network's core team granted mainnet migration access to approximately 2.5 million previously restricted users on January 31, 2026, marking a significant expansion of the network's verified user base. This brings the total eligible users to around 16 million, representing one of the largest verified onboarding efforts for a consumer blockchain.

Price Action and Market Challenges

PI token rose to $0.147, up 15% from its lowest level this week, though it remains over 93% below its all-time high reached in February 2025. The recent rebound follows broader cryptocurrency market recovery, but analysts project further downside to $0.13–$0.14 amid the year's largest token unlock.

Supply Pressure Intensifies

Over 137 million PI tokens are set to unlock in February 2026, adding to existing supply pressure. On-chain data shows nearly 2 million tokens recently moved to exchanges like OKX and Bitget, typically a precursor to selling. The largest PI whale has paused purchases after regularly accumulating millions worth of tokens.

Exchange Listing Development

Kraken added Pi Network to its 2026 asset listing roadmap, marking the first formal signal from a major U.S. exchange that Pi could be under consideration for broader market access. However, the exchange has not committed to a timeline or guaranteed spot trading support. Pi Coin currently trades on platforms like OKX and Bitget, but top-tier exchanges such as Binance and Coinbase have yet to list it.

Protocol Upgrades and Technical Progress

Pi Network's mainnet protocol is undergoing a structured upgrade from version 19 to version 23, signaling one of the most significant infrastructure improvements since the network transitioned into its enclosed mainnet phase. The upgrade process officially begins with a full upgrade to version 19.6 scheduled for February 12, 2026, with subsequent upgrades including version 19.9 expected by February 27, 2026, followed by version 20.2 targeted for March 12, 2026.

Validator Rewards and Developer Tools

The Pi Network team is working to execute validator rewards distribution in March 2026, with design and implementation completed and testing underway. Pi Network launched its first 2026 update, introducing a new developer library that allows developers to add Pi payment functionality into their apps in less than ten minutes.

Open Mainnet 2026 Outlook

Recent developments suggest that key components required for a sustainable open network are actively being strengthened, with migration processes accelerating, utility expanding, and millions of Pioneers preparing for broader participation in the ecosystem.

Pi Network (PI) Price Analysis

Current Price and 24-Hour Performance

Pi Network is trading at $0.1456 with a -2.13% decline over the last 24 hours. The token has experienced modest downward pressure in the short term, though it remains relatively stable compared to its weekly performance.

Market Metrics

• Market Capitalization: $1.30 billion
• 24-Hour Trading Volume: $16.66 million
• Available Supply: 8.91 billion PI
• Fully Diluted Valuation: $1.99 billion

Price Movement Context

The 24-hour decline of -2.13% reflects broader market dynamics rather than token-specific catalysts. More notably, Pi Network has declined -9.4% over the past 7 days, indicating sustained downward pressure over a longer timeframe. However, the token showed a modest +0.2% gain in the last hour, suggesting some stabilization or minor recovery attempts.

Technical Observations

The token's volatility score of 16.04 indicates relatively low price volatility, suggesting Pi Network is trading within a stable range without extreme swings. The risk score of 59.34 places it in the moderate-to-high risk category, typical for mid-cap cryptocurrency assets.

Market Context

With a rank of 56 by market capitalization and moderate trading volume relative to its market cap, Pi Network exhibits characteristics of an established mid-tier cryptocurrency. The recent weekly decline suggests the token may be experiencing profit-taking or broader market headwinds affecting the cryptocurrency sector.

Pi Network (PI) Market Sentiment Analysis

Overall Sentiment: Bearish with Cautious Neutral Undertones

Technical analysis indicates bearish sentiment with 22 bearish signals and only 3 bullish signals. Technical indicators signal 70% bearish market sentiment on PI, while the Fear & Greed Index displays a score of 14 (Extreme Fear). The current price of $0.1456 reflects significant downward pressure despite recent minor stabilization efforts.

Price Performance and Technical Indicators

PI trades around $0.166, down about 94% from its 2025 all-time high. Recent price action shows consolidation between critical support and resistance levels. The RSI value is at 34.83, indicating the PI market is in a neutral position, though this masks underlying weakness in momentum indicators.

The market has broken down from consolidation near $0.20 and is forming a lower base near $0.158–$0.160, despite bearish indicators, Pi has posted a mild gain over the last 24h due to a mix of mainnet updates, reduced exchange liquidity, and cautious optimism around gaming.

Supply Pressure and Token Unlocks

The primary near-term headwind is a major token unlock in January 2026, releasing 134–142 million PI—the year's largest monthly unlock. Following January's unlock of over 139 million tokens, an additional 137 million PI are scheduled to be unlocked in February 2026, with on-chain data showing nearly 2 million tokens recently moved to exchanges like OKX and Bitget, typically a precursor to selling.

Analysts model a bearish scenario where PI drops another 20–25% to $0.131–$0.135 in early February, citing ongoing supply absorption and "Fear" market sentiment.

Community Sentiment: Divided and Conflicted

Community sentiment reflects a fundamental divide between long-term believers and short-term skeptics. Market observers note that $Pi's price has been struggling relative to broader crypto trends, while Bitcoin, Ethereum, and many altcoins have shown gains, $Pi's trajectory has been uneven, prompting concerns about investor confidence and fueling discussions on whether the token can regain momentum or if it has lost its competitive edge.

Some community members express cautious optimism, pointing to the foundational strengths of Pi Network, highlighting the coin's potential as a utility-based cryptocurrency, its mobile-first adoption strategy, and the ongoing development of applications within the Pi ecosystem, with supporters arguing these factors could catalyze demand and stabilize price movements.

However, skeptics emphasize the risks of stagnation, with questions about liquidity, adoption metrics, and competitive positioning raising concerns that $Pi may struggle to attract new buyers during bullish phases.

Social Media Activity and Engagement

Pi has 4,336,029 followers on X, which is considered a quite huge follower base. Pi Network has 111,000 followers on Reddit, 2.9 million on Telegram, 3.5 million on Twitter, and 1.65 million on YouTube. Despite substantial social media presence, social sentiment for the PI crypto is trending negatively.

Unlike traditional crypto communities driven primarily by price movements, Pi Network's strength lies in sustained participation, with millions of users continuing to engage with the network daily, not because of short-term gains, but because they see themselves as part of a long-term digital economy experiment.

Structural Concerns and Controversies

The network is currently facing criticism, particularly from the Hengyang Public Security Bureau in China, which has accused Pi Network of operating a pyramid scheme due to its referral-based growth model, which resembles multi-level marketing.

A growing wave of concern is building within the Pi Network community following revelations that over 276 million Pi coins are currently held in the network's foundation wallet, with the issue sparking debates over decentralization, token control, and transparency.

Trader Positioning and Market Mechanics

Many holders are observing the current price action and awaiting a potential deeper dip to buy more Picoin at lower levels, with this "wait-and-watch" approach common in emerging cryptocurrencies, particularly those with a strong community-driven ecosystem like Pi Network, even as some participants panic, others remain committed to long-term accumulation, believing in the utility and future potential of Pi within the broader Web3 economy.

PI is holding steady despite a broader market pullback led by Bitcoin, with a massive $136 million token unlock being absorbed by current demand, and an ascending triangle on the 4H chart suggesting a potential 15% breakout targeting $0.24.

Near-Term Outlook

Over the coming week, Pi coin price is expected to remain range-bound between $0.205 and $0.225, with overall sentiment staying cautiously bearish to neutral, with a decisive breakout above $0.225 potentially opening the door for a recovery toward $0.235–$0.245.

Pi coin price could rise again in 2026, but the recovery is expected to be gradual and event-driven, relying on developments such as mainnet progress, expanded exchange listings, and improving market sentiment, with mid-year targets potentially moving toward $0.24–$0.32, and possibly $0.35–$0.45 if bullish momentum strengthens.

PI NETWORK TECHNICAL ANALYSIS

Current Market Status

Pi Network is currently trading between $0.155 and $0.158, with the latest data showing a price of $0.14556764724011814 USD. The asset has shown modest daily movement while remaining significantly below its 2025 highs.

24-Hour Performance:

• Price Change (1h): +0.2%
• Price Change (1d): -2.13%
• Price Change (7d): -9.4%
• Market Cap: $1.297 billion
• 24-Hour Volume: $16.66 million

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Key Support Levels

Based on classical pivot point analysis, Pi Network has support levels at $0.1372, $0.1243, and the strongest at $0.1160.

Primary Support Zones:

• Price action is likely to remain capped between $0.155 and $0.170
• Failure to hold $0.155 exposes downside toward $0.145–$0.140
• All eyes are focused on the $0.20 support zone, which has acted as a psychological and technical floor in the past
• The $0.1920 level is the definitive "line in the sand"

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Key Resistance Levels

Pi Network resistance levels are at $0.1583, $0.1666, and $0.1795.

Extended Resistance Zones:

• Technical resistance is currently pegged between $0.176 and $0.193
• For any meaningful recovery in early 2026, the token must first reclaim the $0.176–$0.193 zone
• The $0.30–$0.35 range represents the first meaningful resistance, reinforced by prior consolidation and declining EMAs
• Resistance levels inside the range: $0.2752 – $0.3560 – $0.4361 – $0.5746

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Technical Indicators

Relative Strength Index (RSI):

• The RSI value is at 34.83, which indicates that the PI market is in a neutral position
• The RSI has struggled to maintain a position above the neutral 50 level, with each push higher quickly fading, suggesting weak bullish conviction

Moving Average Convergence/Divergence (MACD):

• The MACD remains below the zero line, with histogram bars still red and widening earlier, now slightly easing, indicating selling pressure persists but is no longer accelerating. There is no bullish crossover yet

Moving Averages:

• PI is trading just well below all major exponential moving averages, with the 20-EMA now above price and acting as dynamic resistance rather than support. The market is no longer consolidating near $0.20, it has broken down and is forming a lower base near $0.158–$0.160
• Pi Network's 200-day SMA will drop in the next month and will hit $0.2453 by Mar 09, 2026. Pi Network's short-term 50-Day SMA is estimated to hit $0.1392 by Mar 09, 2026

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Chart Patterns & Structure

Bearish Structure:

• PI remains in a bearish structure, characterized by lower highs, as it falls below the 50 EMA
• This confirms a clear bearish trend with stacked EMA resistance
• The candle structure shows continued lower highs and weak demand

Potential Reversal Pattern:

• A potential bullish move in PI, with a double bottom reversal from $0.2000, could target the October 27 high at $0.2945, which serves as the neckline. The Relative Strength Index (RSI) on the weekly chart stands at 30, rising higher to exit the oversold zone

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Volume Analysis

Trading volume confirms distribution, with sell-offs showing heavier activity than bounces. Downward moves tend to come with more substantial volume, while recoveries happen on lighter activity. However, as of this writing, the Pi Network volume has dropped below $7 million. This imbalance shows that sellers are more aggressive than buyers.

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Short-Term Outlook (Daily Timeframe)

Assuming a decisive breakout above the $0.193, the Pi Network price prediction points toward $0.220 in mid-February 2026. However, on the 4-hour chart, the Relative Strength Index (RSI) has dropped to around 30. While this brings Pi close to the oversold area, the RSI has not shown the strong bullish divergence that usually signals a rebound. This pattern indicates weak momentum rather than an imminent reversal.

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Medium-Term Outlook (Weekly Timeframe)

For 2027, the key technical question is whether PI can reclaim and hold above the 200-day EMA. This level, currently well above price, has acted as persistent dynamic resistance. A successful reclaim would mark the first credible shift toward a neutral-to-bullish regime. Until then, price action is likely to remain range-bound.

PI is still in a broader downtrend on the daily chart, with price hovering around $0.21 and repeatedly respecting a $0.19–$0.20 support zone. If that floor holds, PI could spend most of 2026 ranging between $0.12 and $0.45, with upside likely capped unless it can reclaim the $0.24–$0.28 area and start closing above the faster moving averages.

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Critical Factors

Supply Pressure:

• The primary factor this month is the unlock of over 193 million Pi tokens, the largest monthly release scheduled until late 2027
• 1.21 billion PI tokens are scheduled to unlock in 2026, which can amplify selling pressure in a market already sensitive to supply

Momentum Weakness:

• Previous attempts by the MACD to turn positive during recent rebounds have been short-lived and failed to sustain upward momentum. The current situation suggests that unless upward momentum improves significantly, any rally is likely to be just a retracement

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Risk Score & Volatility

• Risk Score: 59.34 (Moderate-High Risk)
• Volatility Score: 16.04 (Low Volatility)
• Liquidity Score: 41.98 (Below Average)