The Pi Network, a project that has garnered a massive global community, has transitioned from its long-awaited Enclosed Mainnet to a public Open Mainnet in early 2025. The pivotal move has subjected its native PI token to the open market, leading to significant price volatility and intense scrutiny. As the project navigates this new landscape, investors and community members are closely watching for signs of stability and future growth.
About Pi Network
The Pi Network, a project that has built a massive global community, officially transitioned from its Enclosed Mainnet to an Open Mainnet in early 2025. The significant milestone introduced the native PI token to the open market for the first time, resulting in heightened volatility and growing market interest. With a mix of hope and skepticism surrounding its future, investors and analysts alike are closely watching the token’s next move.
What is the Pi Enclosed Mainnet? The Enclosed Network period helps Pi focus on building ecosystem infrastructure and utilities viable within an enclosed environment—without external noise or instability.
— Pi Network (@PiCoreTeam) April 18, 2023
Pi Network operates on a modified version of the Stellar Consensus Protocol (SCP), aiming to offer security, scalability, and accessibility. Its primary goal is to allow everyday users to mine crypto on mobile devices while contributing to the network’s decentralization. The protocol is structured in phases:
- Phase 1: Community building and trust graph formation.
- Phase 2: Enclosed Mainnet with limited functionality.
- Phase 3 (Current): The Public Open Mainnet launched in early 2025.
Additionally, the Pi App Studio provides a development environment for decentralized apps (dApps), enabling practical use cases for the PI token. The combination of a mobile-first mining model and a growing dApp ecosystem positions Pi Network as a unique experiment in accessible Web3 infrastructure.
Current Market Overview
The PI token has experienced a significant decline from its all-time high of nearly $3 in February 2025. As of early August, the PI token is trading around a price of $0.34 USD. According to market data from Bitget, its 24-hour trading volume stands at approximately $54 million USD, and it holds a market capitalization of roughly $2.7 billion USD.
Source: Bitget
A critical element influencing the token’s price is its ongoing token unlock schedule. An analysis on CoinDCX indicates that a 30-day plan, which started in late July, around 304.7 million PI tokens began entering circulation over a 30-day window. Additionally, 160 million tokens are expected to unlock in August, placing sustained sell-side pressure on the market. We could see that the large influx of new supply has created significant selling pressure, which many analysts believe is the primary reason for the recent price dip.
For more: Pi Network (PI) Hits New All-Time Low
PI Price Prediction: 2025 Scenarios
Ultimately, the price prediction for PI in 2025 is largely contingent on the project’s ability to navigate its current challenges. A bullish scenario could see a sustained break above the $0.44 resistance, possibly fueled by successful mainnet progress or a major exchange listing. In this case, the token could test higher resistance levels and potentially set new records in the second half of the year. The community’s strong “buy the dip” sentiment and the ongoing whale accumulation could provide a powerful foundation for a rebound.
A break above $0.44 could trigger a rebound. Price targets in this case include:
- Short-term: $0.50–$0.55
- Long-term (Q4 2025): $0.70–$0.90
On the other hand, a bearish scenario would involve a breakdown below the $0.33 support level. Failure to hold the $0.33–$0.34 support area would likely lead to a steep correction. The combination of unlock-induced selling, low liquidity, and fading hype could send PI into deeper price discovery territory.
- Short-term downside: $0.29–$0.23
- Long-term floor: As low as $0.20 if market confidence erodes
Falling from these ranges would signal a loss of momentum and could lead to further price depreciation. The continued pressure from token unlocks, low liquidity, and ongoing skepticism could cause the token to remain in a long-term bearish trend. In summary, PI is at a pivotal point in its young lifecycle, and its ability to demonstrate tangible utility and successfully manage its tokenomics will be the primary factor influencing its price trajectory for the rest of 2025.
Final Thoughts: A Crucial Inflection Point
The Pi Network stands at a crossroads. It boasts one of the largest user communities in crypto, mobile-native validation tools, and a promising app ecosystem. However, the lack of liquidity, looming token unlocks, and absence of Tier-1 exchange listings create a challenging short-term environment.
The coming months will determine whether PI can sustain its community momentum and evolve into a meaningful player in the Web3 economy. Price-wise, $0.3438 remains the key level to watch. A bounce here could spark renewed interest; a breakdown might usher in a new wave of capitulation.
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