The Pi Network appears to be losing its grip as the price of Pi Coin continues to decline, dropping another 4% to slip below the $0.70 mark. The once-euphoric trading activity within the Pi ecosystem is also witnessing a notable slump, signaling growing investor skepticism. Additionally, the recent token unlocks have further fueled negative sentiment, leading to an ongoing sell-off.
PiFest Fails to Boost Community Confidence
Despite Pi Network’s announcement of a successful inaugural PiFest on the Open Network, featuring over 125,000 registered sellers and 1.8 million Pioneers engaging with Map of Pi, the community remains unimpressed.
Prominent crypto analyst Dr. Altcoin criticized the Pi Core Team’s claims, stating, “Since the PiFest started, Pi trading activity in the ecosystem has been at its lowest. The only trade was selling Pi for cash.” Many in the Pi community believe that the leadership is out of sync with everyday users, further exacerbating frustrations.
Adding to the discontent, some community members have taken issue with Pi Network’s communication strategy, arguing that its monthly updates remain formulaic and lack substantial progress. Critics like Dao World are now calling for more transparent leadership that understands the nuances of cryptocurrency markets and user expectations.
The Pi Core Team's communication style has not changed at all from the enclosed mainnet period to now. We only hear the same predictable updates once a month. It's difficult to maintain a large community with this approach. We need a new communication method, a new community…
— Dao world (@Koreanteacher1) April 1, 2025
Mining Rate Drops, But No Major Exchange Listing Yet
The Pi Network’s base mining rate has been reduced by another 1.18% this month, now standing at 0.0029030 π per hour. Some speculate that declining mining interest is a direct consequence of Pi’s underwhelming market performance.
Meanwhile, despite long-standing rumors of a listing on top exchanges like Binance and Coinbase, no progress has been made. While BTCC Exchange has added Pi for spot trading, it failed to generate any meaningful price rally.
What’s Next for Pi Coin Price?
Over the past week, Pi Coin has plummeted by 20%, with critical support levels now at $0.60. Heavy selling pressure has driven daily trading volumes down by 52% to $148 million.
Pi Coin is currently forming a falling wedge pattern, testing key support at $0.687. A breakout above the $0.71–$0.72 range could signal a potential rally toward $0.75–$0.78. However, market analysts predict that Pi could dip below $0.60 in April unless bullish momentum returns.
While some remain optimistic about Pi’s long-term potential, the current trend suggests that it faces an uphill battle in restoring investor confidence.
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.
Also Read: Pi Network Price Drops Below $0.80: Will It Crash to $0.60 or Rebound?
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
