Why hasn’t Pi Network followed the broader altcoin market rebound in early 2026?

[etfs]

While the broader altcoin market (TOTAL3) rebounded by more than 7% in early 2026, Pi Network remained stuck around the $0.20 level. The primary reason is demand — or more precisely, the lack of it. Exchange data shows no meaningful inflow of new buyers, even as capital rotated back into other altcoins across the market.

Pi’s weak performance is closely tied to collapsing trading activity and liquidity. Weekly trading volume has fallen below $100 million, down more than 99% from peaks seen last year. At the same time, Pi balances on centralized exchanges remain high, signaling persistent selling pressure. This combination makes sustained price recovery difficult and increases the risk of sharp downside moves.

[96f402f86e]

kinda hard to pump when nobody actually wants to buy it

[Revenant]

Liquidity is the fuel, not hype.

[Capybara_Capybara]

High exchange balances signal distribution, not strength.

[The_Walking_Dead]

Rotation skips assets with weak demand.