Pi Network price declines toward record lows amid market weakness

Pi Network (PI) has experienced a significant price decline, with the token falling below the $1 billion market capitalization threshold. Recent trading saw the price drop from a psychological supply zone of $0.10 to approximately $0.082, representing a weekly loss of over 13%.

The downturn coincides with broader cryptocurrency market weakness, including a sell-off in Bitcoin from $82,000 to $75,000 and the failure of the CLARITY Act in the Senate. Technical indicators, including the Relative Strength Index (RSI) and the breakdown of a rising wedge pattern, suggest continued bearish momentum.

Despite the price volatility, developers recently concluded the Protocol 27 upgrade, which is designed to expand smart-contract authentication capabilities. Analysts note that if the current downward trend persists, the token may test its all-time low near $0.0715.