The Welshman, who is far from his best form, was beaten 6-5 by world number 57 Keegan Brown during the third edition of this season's Players Championship.
Price has now lost three of his last four games but continues to hold the number one tag as rival Peter Wright failed to capitalise.
Winning the event in Wigan would have taken Snakebite ahead of Price in the PDC's Order of Merit.
The Scot made a good start to the event as he beat South Africa's Devon Petersen 6-5 in his opening contest.
However, the current world champion was unable to prevail against Germany's Max Hopp in the following round as the world number 63 recorded a memorable 6-5 win over the Scot.
Joe Cullen went on to win the tournament with an 8-4 victory over Damon Heta in the final.
The Rockstar is enjoying an incredible start to the season having won the Masters last month and reached his first Premier League final last Thursday.
Price and Wright will be hoping for a better run in Sunday's edition of the Players Championship before making their way to Belfast for the Premier League.
Price is set to take on Michael Smith in Northern Ireland while Wright will go head-to-head with fellow Scotsman Gary Anderson.