The recent plunge in Pi Network’s (PI) coin price has sparked widespread concern among investors, with PI hitting a new monthly low of $0.5376 — a staggering 69% drop from its March peak. While technical indicators hint at a possible short-term rebound, market sentiment and internal challenges may stall any substantial recovery.
Currently, PI’s Relative Strength Index (RSI) has fallen below 20 on the hourly chart, signaling that the coin is oversold. Historically, such levels suggest a potential short-term bounce. However, resistance looms in the $0.6817 to $0.6915 range — a previous support zone that has now flipped into a barrier.
Adding to the cautious outlook is the Chaikin Money Flow (CMF), which sits at -0.23, indicating dominant selling pressure. CoinGape’s latest prediction confirms this bearish trend, citing a weak three-month outlook.
Beyond technicals, macroeconomic factors such as global trade tensions and cautious investor sentiment continue to weigh down crypto assets. Pi Network is not immune. Many investors remain wary of high-risk tokens, with PI seen as particularly vulnerable due to unresolved internal hurdles.
PiDaoSwap has voiced frustration over the delayed and dragged-out KYB process, even though their platform is already fully developed. This painful slowdown isn’t just affecting pioneers (with KYC approvals and mainnet migration)—it’s hitting the very ecosystems trying to build on… pic.twitter.com/tqPeLQ8oX6
— Pi Network – Open Mainnet (@Pi81Mall) April 4, 2025
Despite a significant $478 million surge in trading volume — up more than 76% — optimism remains tempered by the network’s lack of listings on major exchanges like Binance and Coinbase. The exclusion from Binance’s latest “Vote to List” initiative further underscores this limitation.
Internally, criticism is mounting against the Pi Core Team. Community members cite ongoing frustrations over slow KYC integration, delayed mainnet rollout, and limited third-party developer access. Platforms like PiDaoSwap have also voiced dissatisfaction over bottlenecks in the KYB process.
Even with recent promotional efforts such as the PiFest event, many within the community feel the leadership lacks transparency and responsiveness. Calls for decentralized governance and more frequent, authentic communication are growing louder.
Also Read: Pi Network Price Plunges Below $0.70 – Is a New All-Time Low Imminent?
While short-term technicals suggest a potential rebound, Pi Network’s long-term recovery will depend on broader market improvements, exchange listings, and a more transparent and responsive leadership. Until then, any price rebound may be fleeting.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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