In the past eight months, no crypto has exemplified the perils of crypto volatility more starkly than PI Coin. The PI USD listing in late February 2025 was met with widespread hope and excitement, even exceeding the hype seen when some of the best crypto presales launch. After listing on OKX, the PI crypto shattered expectations, surging to a peak of $3. Many investors believed PI USDT would push even higher, to $5, and propel the PI coin into the top 5 by market cap.
Yet, just as swiftly as PI USDT had rallied, it crashed even harder. Fast-forward a few months, and PI crypto holders are left reeling from how quickly fortunes can turn. The PI price is now down -91% from its all-time high, according to Coingecko. Those who held on, dreaming it would rival Bitcoin, Hyper, or Ethereum, have clawed back just -6% from the all-time lows. While that’s a mere scratch by any measure, it doesn’t mean the PI crypto saga is over.
(Source: Coingecko)
Delving into its tokenomics reveals why PI crypto continues to falter: only about +9% of the maximum supply of 100Bn PI is in circulation. At press time, just 12.6Bn of the max supply have been minted, with 8.19Bn in circulation. Though it may seem like most PI coins are already out there, the network’s deflationary mechanics suggest a long road ahead before the full supply is released.
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PI USD Selling Off: Will PI Coin Sink to Fresh All-Time Lows?
Given the grim price action and unappealing tokenomics, traders are treading carefully.
Yesterday, September 22, the PI coin plunged to new H2 2025 lows. From the
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daily chart, PI crypto broke below the $0.32 multi-month support level, extending losses from May 2025.
At this trajectory, PI USDT could plummet to $0.10, erasing gains from Q1 2025, and piling even more misery on loyal “Pioneers.”
If that happens, it would mark yet another brutal dive into oblivion, delivering a crushing blow to the project’s ambitious mining community.
Beyond the dismal price trends, deeper structural issues could prolong the pain for PI coin. Hype may temporarily mask doubts about its real-world utility, but not for long, especially in a bear market. Instead of leaning on fleeting excitement, the team is focusing on building a solid foundation, recently rolling out updates to ease chronic KYC hurdles.
Pi Network is preparing for v23 to boost scalability and security.
🚀Pi Network Testnet1 Update🚀
Testnet1 has been upgraded to Protocol 23!
This is a massive leap forward.⏩Next up: Testnet2 and Mainnet. Expect some weeks to fully upgrade to Protocol 23.
Follow @PiPioneersX to stay tuned!📢#PiNetwork #Testnet #Crypto #Protocol23 pic.twitter.com/YnyKgzYo4i
— Pi Pioneers X (@PiPioneersX) September 18, 2025
They’re also accelerating KYC verification, cutting wait times from weeks to mere minutes. What was once restricted to users with 20 completed mining sessions is now accessible to all eligible Pioneers through the Pi Wallet.
Pi Network’s protocol upgrades will enable functionalities including embedding KYC authority in the protocol that will maintain Pi as a KYC-verified blockchain while offering a more distributed, community-driven KYC process at the protocol level. https://t.co/awWJ43qfA8
— Pi Network (@PiCoreTeam) September 4, 2025
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Still, these fixes feel like bandages on a project that’s already bleeding heavily.
A broader liftoff in SOL USD or BTCUSDT might provide short-term relief for PI coin, but over the medium term, savvy investors should eye low-risk, high-reward alternatives.
As PI coin fades into the background, PepeNode is emerging as one of the best crypto presales, offering genuine utility and explosive viral potential.
PepeNode is a mine-to-earn meme coin changing crypto engagement via a gamified virtual mining ecosystem. Ditching the need for physical hardware like mobile phones, it lets users construct virtual servers to mine top Solana meme coins, such as Fartcoin.
Getting started is simple: Meme coin enthusiasts purchase virtual nodes with PEPENODE tokens. Upgrades require spending more PEPENODE, but the team burns +70% of those tokens, fostering a deflationary pressure that enhances scarcity.
To date, PepeNode has raised over $1.3M.
Each PEPENODE trades at $0.0010702, though prices will rise in the next 34 hours. Plus, server operators can stake their PEPENODE for a staggering +956% APY.
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PI Coin Falls, PepeNode Is Among The Best Crypto Presales
- PI USD under pressure, dips to print new H2 2025 lows
- PI coin faces an inflationary problem
- PI Network preparing for v23
- PepeNode presale raises over $1.3M
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