Pi Network Slips Below 8 Cents, Double Bottom Under Pressure

Pi Network price has given back ground it clawed out last week, dropping cleanly through the $0.0800 handle and leaving the proposed double-bottom formation looking more fragile than it did on Monday.

Why the $0.07850 Level Matters Now

TradingView’s OKX PI/USDT daily chart printed $0.07856 by the close on Oct. 8. That print came with a 2.96% decline that accelerated once bids at 0.0800 evaporated. The lower edge of the double-bottom pattern now sits right around that same zone, so any further drift lower risks turning the setup into a simple continuation lower rather than a reversal.

Volume on the break was nothing dramatic, which tells you sellers aren’t panicking yet but buyers also aren’t stepping in aggressively. That kind of quiet erosion often precedes the next leg when retail interest is already thin.

How This Fits the Wider Crypto Tape

Pi has never traded with the same liquidity profile as the majors, so moves like this tend to exaggerate when the broader market goes quiet. Bitcoin’s own consolidation has left altcoins without a strong directional cue, and Pi is feeling that absence of sponsorship. The project’s long-delayed mainnet transition still casts a shadow; every incremental delay gives short-term traders another reason to stay on the sidelines or press the downside.

Why does that matter? Because the coin’s price action has started to decouple from the usual social-media-driven spikes that used to define it. Without fresh narrative fuel, the chart is left to its own devices.

Market Reaction and Positioning

Traders who had been leaning on the double-bottom thesis took a hit on the break. Stops below 0.0800 are now being tested, and a clean daily close beneath the pattern’s measured-move target would shift attention toward the next cluster around 0.0720–0.0730. On the flip side, any quick reclaim of 0.0800 would at least keep the higher-low sequence alive.

Options flow in the name remains light, so the move is still driven by spot and perpetual futures rather than leveraged positioning that could force a violent squeeze either way.

What Traders Are Watching Next

If the daily candle closes below the pattern low, the path of least resistance tilts lower into mid-October. A bounce back above 0.0815 would be the first sign that the selling is losing steam, but right now the tape is offering no such confirmation.

Anyone holding a long bias here needs to keep stops tight; this is the kind of move that catches leveraged traders off guard when liquidity thins into the weekend. There’s no guarantee the pattern resolves higher just because it looked constructive a few days ago.