Key Highlights:
- Pi Network drops down by 13% today, February 16, 2026.
- The drop has outpaced the market’s 2.7% dip, which has been mainly because of risk-off rotation.
- According to analysts, $0.15 acts as a critical support level.
Pi coin is in a freefall as the token experienced a downfall of 13% today, February 16, 2026. The price of the token is now hovering around the $0.16 mark in the last 24-hours. The bigger cause here for this freefall is the overall crypto market’s 2.7% dip in the last 24 hours. Even as Pi Network rolls out critical node upgrades for its big expansion, the price is still tanking.
At press time, the price of the token stands at $0.1692 with a drop of 12.97% in the last 24-hours as per CoinMarketCap.
It has also been observed that this drop can be attributed to altcoin panic that is being seen in the crypto market. Traders are selling off riskier coins like Pi and are getting hold of safer options. The altcoin Season Index dropped down to 30 as per CoinMarketCap, which is a clear indication of money leaving small caps.
Low liquidity is something that makes things worse. With only $64 million in 24-hours volume against $1.52 billion market cap, Pi’s turnover ratio sits at 0.043. Few buyers means small sells hit hard.
Amidst all of this chaos, Pi Network in the last week issued a tweet on X and forced users for must-do-node-upgrades. Here, Pi Network issued an urgent notice last week urging all mainnet node operators to upgrade to version 19.6 right away. The Pi core team set a strict deadline of February 15, 2026. This deadline was extended from February 12, 2026 as there were some hiccups. These upgrades are necessary to keep the nodes synced and active.
Without it nodes risk getting kicked off the network, losing validation rewards set for March. This mandatory step, first in a sequence to v23, boosts security and scalability amid expansion. But even with this push, the price of the token crashed hard.
What’s Next for Pi Network?
Short-term, eyes are on the key levels. If Pi manages to hold above $0.15 support and Bitcoin stabilizes above $68,000, then there is a possibility of consolidation, a flat spot where it stops dropping so quickly. However, if at all, the price of the token falls below this level ($0.15), then the price of the token may steep as low as $0.12 or even lower than that. The trend feels bearish, but Pi looks oversold, like sellers might be running out of steam soon.
Moreover a volume to dry up near $0.15 and that would signal exhaustion. A bounce back to $0.18 would mean buyers are stepping in, hinting at a turnaround. Broader market stability is key too; if Bitcoin steadies, altcoins like Pi could catch a break.
In the end, Pi’s plunge mixes market-wide fear with its own thin trading. Low liquidity turns normal dips into disasters. As Pi Network pushes upgrades amid this mess, holders are sweating. Will Pi’s price base here or keep falling, only time will tell.
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