The Pi coin price has seen a troubling trajectory recently, dropping over 4% and falling below the $0.70 mark. This decline has not gone unnoticed, sparking discontent within the Pi Network community. Users have expressed frustration over the project’s communication style and perceived lack of activity within the ecosystem. Despite the recent announcement of PiFest, skepticism persists among traders, leading analysts to predict further price declines with a crucial support level identified around $0.60. However, some optimistic investors still cling to hopes of a long-term recovery.
In a stark turn of events, the Pi Coin price has plummeted by 20% in just one week, accompanied by a staggering 52% crash in trading volumes, which now sit at $148 million. This increasing selling pressure indicates a growing lack of confidence among traders regarding the future of the Pi Network. Although PiFest attracted record participation—with over 125,000 sellers and 1.8 million users—the prevailing sentiment remains one of dissatisfaction among community members, emphasizing the need for more robust engagement and excitement within the ecosystem.
Mining Rate Decline and Trading Activity Slowdown
One significant factor contributing to this downturn is the recent reduction of the base mining rate by the Pi Network, which has decreased by 1.18%, now yielding 0.0029030 Ï€ per hour. This decline in mining rewards may lead to waning interest from existing miners as the financial incentives diminish. Fewer rewards could translate into less market participation, ultimately reducing the number of active miners and further impacting the network’s overall activity.
Despite discussions about securing listings on major exchanges like Binance and Coinbase, concrete progress has been stagnant. Although the BTCC exchange recently introduced spot trading for Pi, the anticipated price recovery did not follow suit. Without broader adoption and more exchanges facilitating trading, liquidity remains a significant hurdle for potential investors.
Bearish Market Indicators: Pi Coin Struggles with Volatility and Selling Pressure
On April 2, Pi coin experienced notable volatility, starting the day at $0.6915 and peaking at $0.6918, reflecting only a modest 0.04% gain. However, the overarching trend has been downward, highlighted by a recent 3.83% decline that intensifies bearish market sentiments. The trading volume during this time was sluggish, registering at only 10.23K, which demonstrates weak buying interest and heightens worries about further declines.
Chart 1 – PI/USDT live price, published on TradingView, April 2, 2025.
Technical indicators tell a concerning story as well. The Relative Strength Index (RSI) has hovered around 39.42, inching closer to oversold territory, while the RSI’s moving average stands at 39.78—both of which suggest heightened volatility and continued selling pressure. This technical setup indicates that Pi may require significant momentum to reverse its current trend.
Chart 2 – PI/USDT falling wedge pattern, published on TradingView, April 2, 2025.
Analysts are observing a potential falling wedge pattern forming, with the lower boundary testing around $0.687. A breakout above the $0.71–$0.72 range could signal a short-term bullish reversal. Resistance levels, if established, are expected between $0.75 and $0.78. However, should Pi fail to uphold the support at $0.687, a drop to $0.60 seems likely.
Can Pi Network Overcome Challenges and Regain Investor Trust?
The Pi Network continues its efforts to expand its ecosystem, but it faces substantial challenges in the process. Many traders are voicing the need for greater clarity regarding project updates and strategic initiatives to foster robust and sustainable growth.
The path forward is contingent on Pi’s ability to boost user adoption and secure additional exchange listings. The market remains wary, and without significant developments, Pi might find it difficult to stage a comeback and convince investors of its viability and long-term prospects.
Final Verdict: Can Pi Coin Price Recover?
As it stands, the Pi coin price is entrenched in a downward spiral, grappling with frail support and increasing skepticism from investors. While some are hopeful for a turnaround, current market dynamics indicate a bearish sentiment prevailing over a potential price recovery. The essential support level rests around $0.60, and the future of the Pi Network will largely depend on its ability to restore investor confidence and improve practical applications within the market.
