The price of the Pi cryptocurrency from Pi Network has recorded a modest rebound over the past week. However, the token remains far below its early listing peak and investor enthusiasm appears limited.

As of the morning of March 9, data from CoinGecko shows that Pi is trading at nearly US$0.22 per token, up 3.9 percent from the previous day, with a market capitalization of around US$2.1 billion.

Statistics show that over the past week, Pi’s price has fluctuated between US$0.167 and US$0.2366. However, compared with its peak of US$2.99, the cryptocurrency has now lost about 92.7 percent of its value.

According to some investors, the recent price increase may be linked to the upcoming Pi Day on March 14, when many users hope the development team behind the cryptocurrency will announce updates that could help drive the price higher.

“However, this could simply be speculative activity aimed at creating FOMO among investors, pushing the price up slightly rather than reflecting any long-term momentum,” said Nguyen Van Thanh, a Pi investor in Ho Chi Minh City.

He added that the token’s price has continued to fluctuate and it may be difficult for Pi to return to its previous high levels as many users once expected.

Previously, when the Pi cryptocurrency had not yet been listed on digital asset exchanges, discussions about the token were widespread across online communities. Some offline gatherings were even organized in Vietnam for Pi users and supporters.

At present, however, interest in the project has declined significantly.

After its listing, Pi’s price rose briefly during the first few days before falling steadily. The token has since lost more than 90 percent of its value.

Many Pi-related groups on social media platforms and messaging applications now show little activity, with users interacting far less frequently.

Although some groups remain active, engagement levels are generally low. Many posts are often criticized by members who accuse the authors of attempting to lure new participants into speculative investments.

Le Minh