Key Factors Holding Back Pi Network’s Price Surge Amid Altcoin Recovery

The price of Pi Network (PI) has remained stable around $0.46 since the beginning of July, despite a significant rebound in the altcoin market. For many Pi Pioneers, however, the anticipation of a price surge remains high.

This article outlines a few reasons behind Pi’s price stability in July and why the long-awaited rally has yet to materialize.

3 Reasons Why Pi Network (PI) Misses Out on the Altcoin Recovery

In July 2025, the altcoin market cap saw an impressive 20% recovery, signaling renewed enthusiasm in the market. At the same time, overall sentiment shifted from “neutral” to “greed.”

However, unlike most altcoins, Pi Coin’s price barely changed. It continued to hover around $0.46.

Altcoin Market Cap (TOTAL2) vs. PI Price. Source: TradingView

The first reason behind Pi’s lack of momentum could be the growing reserves on centralized exchanges (CEXs). BeInCrypto reported that PI reserves on centralized exchanges hit 370 million in early July. That number has now exceeded 384 million — a 14 million increase in just one week.

This growing supply creates potential selling pressure. As a result, Pi struggles to break out, even when the broader altcoin market is recovering.

However, there’s a positive side to this. If the selling pressure is so high, why hasn’t the price dropped sharply? That leads to the second reason.

Analyst Moon Jeff emphasized that Pi is consolidating in the $0.40–$0.50 range.

“I believe this is a $PI accumulation zone. $0.4–$0.5 is always an accumulation point. From here we expect a pump toward the reasonable one dollar. This is the time to buy. Targeting a new ATH,” Moon Jeff said.

Accumulation zones usually indicate preparation by long-term investors. These holders are willing to buy from those selling on exchanges and wait for a potential breakout in the future.

A third reason, mentioned within the community, is that Pi Coin is currently excluded from the altcoin season.

This view is based on the unique profile of Pi’s Pioneers. Most of them are older than the average crypto investor. They discovered Pi through multi-level marketing models and often do not invest in any altcoin besides Pi.

In contrast, native crypto investors have largely remained cautious about the project, especially since the open network phase began.

Still, one Pi investor on X (formerly Twitter) named Dao World believes Pi’s price continues to move in sync with the altcoin market — it just hasn’t exploded yet.

“If you look at the charts, Pi’s price still moves in sync with other altcoins. This indicates that market makers are actively adjusting Pi’s price and their movements are closely tied to the altcoin season…Just be quiet and wait,” Dao World said.

The latest analysis by BeInCrypto shows that the $0.4452 level is a critical support zone for Pi. If it breaks below this level, Pi could fall toward $0.4001. On the other hand, strong accumulation could push the price up to $0.49.