4,000,000 PI in 24 hours: Is Pi Network’s price ready to recover?

The PI has fallen 9% in the past week, but a rebound in the near future is not unlikely.

However, one indicator suggests that a short-term rally may be knocking on the door.

Leaving exchanges

Earlier this week, Pi Network’s PI fell to around $0.18, quite close to the all-time low of $0.17 from last October. There was a small rebound, but it is currently trading around that level, representing a 9% decline on a weekly basis and a massive 94% collapse since the historic peak of $3 in February 2025.

It is important to note that PI’s withdrawal is not an isolated case, as the broader crypto market moved south following increased geopolitical tension between the US and the European Union due to the Greenland saga.

While the current situation appears to be heavily in favor of the bears, the exodus from exchanges indicates that not all is lost for Pi Network’s token. In the last 24 hours alone, over four million coins have been moved from such platforms to self-custody methods, easing immediate selling pressure.

At the time of writing, the total amount of PI stored on exchanges is approximately 419.7 million. More than 50% of these are on Gate.io, while Bitget comes in second with 145.7 million.

Are the bears here to stay?

Pi Network has an extensive and committed community base, but the continued downward trend and ecosystem issues have led to increased backlash from some members. Not long ago, X-user Pi Update described the project as “the longest running crypto venture” and criticized “the endless KYC queues, frozen balances, forced lockups and still no truly open mainnet.”

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They further pointed to the lack of major stock market listings, arguing that “at some point you have to admit that this isn’t early – it’s late and still unfinished.”

Pinetwork members from They noted that the coin has failed to follow the overall market rebound in the first days of the year and pointed to unclear offerings, “no truly open mainnet,” centralized control and locked balances as key hurdles.