The Pi Network has reached a staggering new low, with its token dropping 16% today, bringing the price down to approximately $0.0814. This marks a dramatic decline of nearly 97.3% from its peak value of $2.98. Investors and analysts are left questioning the reasons behind this sharp downturn and whether the PI token can stage a comeback. A significant factor in this ongoing decline includes the recent monthly unlocks, which have seen 103 million Pi tokens released into circulation.