Is Pi Network (PI) headed for a new low after 26% plunge?

Pi Network (PI) is facing significant downside pressure after a steep drop in value over the past week.

According to data from CoinMarketCap, PI’s price has plummeted more than 26% in the last seven days, underperforming the broader crypto market, which is down just 3% over the same period.

While PI’s decline reflects the overall market turbulence, the token is now at risk of hitting a new all-time low if bearish sentiment persists.

Pi Network update

Despite the price outlook, Pi Network remains one of the biggest token communities in the space.

Controversy or not, the project is attracting massive numbers of Pioneers.

That's part of the reason the team completed a significant update to its platform.

Pi Network has introduced email-based two-factor authentication (2FA) for account management and verification.

This change aims to address longstanding issues with the short messaging service.

In the update, Pi Network said SMS-based verification is proving to be unreliable and costly due to global telecommunication variances.

However, by shifting to email-based 2FA, Pi Network aims to bolster user security.

The shift opens the door for the future implementation of advanced verification methods like passkeys and biometrics.

PI’s current market performance

Pi Network’s native token, PI, is currently trading at approximately $0.69, according to CoinMarketCap.

Over the last 24 hours, as of March 31, 2025, PI has seen a 10% change in price.

This isn't isolated as most altcoins feel the pain amid continued market choppiness.

A fresh catalyst could likely catapult prices higher, including Pi Network.

However, with weekly trends painting a grim picture, PI could see more downside action.

The token has lost 26% of its value in the past seven days.

A look at the broader market shows PI is underperforming compared to the global crypto market, which is down about 3% in the same period.

As such, PI doesn't just trade among the top losers in the crypto market in the past week but could also risk a flip to a new all-time low.

That area lies below $0.70.

The token’s price trajectory has some analysts suggesting more pain.

In case of extended decline, PI could drop to as low as $0.6 or even $0.05. PI’s 24-hour range includes a drop to lows of $0.68.