Pi Network’s (PI) token stayed under $0.20 on Wednesday after several days of sideways trading, while the broader crypto market remained under pressure. 

PI has dropped about 37% from its recent peak near $0.29 to around $0.18, even as the project continued to post updates around its ecosystem and future events. The current setup shows that price pressure may continue in the coming weeks if supply rises faster than demand and market sentiment stays weak.

The wider crypto market has entered a cautious phase, and that has limited support for many altcoins. Bitcoin has fallen about 4% over the past seven days after failing to hold levels above $72,000, while Ether, Solana, and XRP have also moved in a narrow range.

That backdrop has affected Pi Coin as well. Tension between the United States and Iran has added another layer of uncertainty, and traders have remained careful even as reports pointed to possible diplomatic talks. In such conditions, risk assets often struggle to attract strong buying interest.

Token Unlocks Could Add Fresh Selling Pressure

Another factor that may weigh on PI is the upcoming token release schedule. Around 154.2 million tokens are expected to enter circulation over the next 30 days, which equals about 5.1 million tokens per day.

A rise in circulating supply can pressure price when buyer demand does not grow at the same pace. Large unlock events have often triggered short-term volatility in other crypto projects, and PI may face the same risk if holders decide to sell part of the newly available supply.

In addition, PI posted a strong move in mid-March, but that rally lost pace quickly. Since then, the token has traded sideways and remained below the $0.20 mark, which shows that buyers have not fully regained control.

The pullback from $0.29 to about $0.18 also points to weaker short-term momentum. Mainnet-related optimism has not been enough to reverse that trend so far, and that may keep traders focused on downside risks instead of recovery.

Conference Exposure May Not Change Near-Term Price Action

Pi Network has also drawn attention after securing a sponsorship role at Consensus 2026 in Miami, which will run from May 5 to May 7. Supporters of the project viewed the development as a positive step, and one X user said the event includes a 20-minute main-stage session focused on PI and artificial intelligence.

Still, event visibility does not always lead to immediate price support. Last year, Pi Network also appeared as a Gold Sponsor at TOKEN2049 in Singapore, yet sponsorship activity alone did not remove market pressure. For now, traders appear more focused on supply, momentum, and market conditions than on conference exposure.