Such market activities are expected for a coin that has been around for a very long time and before the recent listing they have been huge engagement from its mining community which has grown so much since it was a mobile-based mining thing, and aside from that their hard a lot of airdrop that draw support from all over to the coin and that alone is enough to keep the market in this current state of trying to break out and falling back, but we can't predict if the pi coin will pass it last all-time high of $3.
Breaking a new ATH seems quite difficult, it's the responsibility of developers to provide more complex use cases to make more official adoption. So far, with a price of around $1.78, Pi (PI) is ranked #11 on Coinmarketcap. So, for now, there's not much we can expect from the token's price performance. FYI, Pi (PI) only needs to double their market cap to surpass the market cap of Tron (TRX), didn't expect Pi (PI) to be this big.