It has been a tough week for many in the cryptocurrency sector, but the Pi Network’s token has taken a significant hit, marking multiple all-time lows.

In just about three days, the token dropped drastically to an all-time low of $0.1589 on January 29 (according to CoinGecko), reflecting a 94.5% decline since its all-time high of $2.99 in February 2025.

In light of these developments, we consulted with Gemini, a prominent cryptocurrency analysis firm, regarding the outlook for the upcoming week and the residual hope for those holding the PI tokens.

What Lies Ahead for PI?

Before addressing its future, Gemini analyzed the reasons behind the recent price drop. They identified several contributing factors, not solely related to market trends. They noted that some major investors have exited the project after years of unfulfilled expectations and minimal progress.

“On-chain data and volume metrics suggest that the few whales (large holders of the IOU pairs) have stopped defending the price. Volume has dried up, leaving only retail panic-sellers.”

Regarding future price movements, Gemini highlighted the possibility of another decline to $0.12-$0.14, warning that PI has broken through all support levels, resulting in a lack of defense zones.

A Glimpse into the Future

Gemini expressed skepticism over PI’s performance in the near term. After a significant drop in price, they noted that a brief uptick to around $0.18 could occur; however, this is likely to be a temporary bounce due to oversold conditions.

Such a rebound might tempt bears to short the asset aggressively, potentially pushing the price down to $0.14 by the week’s conclusion.

“When an asset breaks an ATL, it typically drops another 15-20% before finding a temporary bottom. There is zero volume support below $0.16.”

Gemini advised potential investors to exercise caution and wait for stabilization, possibly seeking support at $0.16 before making any purchases.