Pi Network remains under pressure near $0.17 as weak market conditions and rising token supply continue weighing on price action.
While ecosystem growth continues, most current forecasts still place Pi below the $1 milestone throughout 2026.
Pi Network continues trading near the $0.17 level in May 2026 after another round of weakness across the crypto market. Bitcoin’s recent move below $80,000 dragged several altcoins lower, with Pi also struggling to recover after facing rejection near the $0.19 resistance zone.
According to CoinCodex, overall sentiment around Pi currently remains bearish. The platform shows 24 technical indicators flashing sell signals compared to only three bullish indicators, while the Fear & Greed Index remains in “Fear” territory near 34.
Short-Term Outlook Remains Weak
In the short term, Pi continues trading below major moving averages, including the 20, 50, 100, and 200-day EMAs. The MACD indicator recently turned bearish again, while the RSI remains neutral near 44, showing weak buying strength.
CoinCodex currently projects Pi trading between roughly $0.118 and $0.170 throughout May 2026, with resistance forming near the $0.178–$0.192 range. If broader crypto market weakness continues, Pi could revisit support zones near $0.165 or even $0.160.
At the same time, the upcoming Protocol 23 upgrade remains one of the biggest developments for the network this month. Protocol 22 previously pushed Pi nearly 9% higher before momentum faded again.
Ecosystem Growth Continues
Despite weak price action, Pi Network’s ecosystem continues expanding steadily. The network recently crossed 18.1 million verified users and completed more than 16.7 million mainnet migrations.
However, token inflation remains one of the biggest concerns surrounding Pi right now. Roughly 174 million Pi tokens are expected to enter circulation over the next month, adding fresh sell pressure to the market.
Several broader market models currently place Pi between $0.22 and $0.50 under stronger market conditions through late 2026 and early 2027, especially if exchange accessibility improves and ecosystem activity expands further.
PiScan Upgrade Impacts Sentiment
PiScan, the Pi Network block explorer, is currently undergoing a Protocol 23 upgrade, with indexing infrastructure and on-chain analytics services temporarily affected until May 15.
During the same period, Pi Network’s positive sentiment metric dropped sharply from 10.24 on May 8 to nearly 1.49. The slowdown in on-chain data visibility during thePiScan maintenance window may have contributed to weaker community activity across social platforms.
Can Pi Reach $1?
Right now, most verified forecasts still place Pi below the $1 mark throughout 2026. CoinCodex currently projects Pi ending 2026 near $0.138.
A realistic move toward $1 would likely require stronger ecosystem utility, major exchange listings, sustained network growth, and a much stronger crypto market recovery over the coming years.
Crypto creator A2Z BOSS remained highly bullish on Pi despite the recent decline, recently discussing possible accumulation zones near the $0.10–$0.05 range while maintaining long-term targets between $10 and $15.
Meanwhile, crypto commentator MOON JEFF pointed to token inflation as the main factor hurting Pi’s performance. He noted that Pi previously traded near $3.40 before falling toward the current $0.17 range, with ongoing daily unlocks continuing to pressure the market.
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