The crypto world is still reeling from the Mantra collapse, which wiped out over $5.5 billion in market value in under an hour.

Now, all eyes are on Pi Network, as analysts warn the Pi Core Team to prioritize transparency and robust safeguards, or risk a similar disaster as it transitions to its Open Mainnet phase. By Dr Altcoin.

The crypto world is still reeling from the Mantra collapse, which wiped out over $5.5 billion in market value in under an hour. Now, all eyes are on Pi Network, as analysts warn the Pi Core Team to prioritize transparency and robust safeguards, or risk a similar disaster as it transitions to its Open Mainnet phase.

OM’s price collapsed by more than 90% in a single day, sending shockwaves through the industry and igniting fears that other projects, especially those at critical development stages like Pi Network, could be next. Crypto analyst Dr Altcoin didn’t mince words in his tweet, saying, "The OM incident is a wake-up call for the entire crypto industry, proof that stricter regulations are urgently needed. It also serves as a huge lesson for the Pi Core Team as we transition from the Open Network to the Open Mainnet, and for the broader community."

"One thing is clear about the PCT: they are not transparent," Dr Altcoin added, calling for urgent improvements in communication, token mechanics, and Know Your Business (KYB) processes. Delays in KYB approvals and unclear token-locking mechanisms have already forced some Pi ecosystem projects to seek alternatives, eroding community trust.

Despite the criticism, Pi Network’s supporters highlight its slow token release, growing utility, and massive user base, reportedly nearing 60 million, as reasons it may avoid OM’s fate. "Massive community (35 M+ pioneers), steady unlocks, growing utility (.pi domains, dapps), and a clean track record," one Pi Open Mainnet account stated. The team’s recent integrations with Chainlink and new fiat on-ramps create a "virtuous cycle" of adoption and utility.

Yet, concerns persist. Technical analysts warn that the Pi price, currently trading at $0.74, faces strong resistance and could be vulnerable to sharp pullbacks if transparency and optimal levels of coins in optimal hands aren't achieved. As the Pi Network steps into its most public phase, the industry is watching closely to see if it can avoid the pitfalls that brought OM down.

With the concerns surrounding Pi, its price action in the coming days will be crucial. Let’s look at the latest Pi price performance to see how it has held up against market scrutiny.

Pi Price Analysis: Pi Plunges by 14%! Market Left Shocked!

The Pi price has been seen consolidating around the $0.74 mark for quite a while now. The last 24 hours saw a similar story unfold. Yesterday, Pi began trading at $0.7337. The Pi coin was on an uptrend from the previous day. This uptrend continued until Pi faced strict resistance at $0.7588. Pi continued testing the resistance for the next few hours, but failed to break across. At 13:00 UTC, Pi finally faced a downtrend and established support at $0.7306.

Chart 1: published on TradingView, April 15, 2025

Any positive movements from that point were met with rejection at the $0.7481 price point. A narrow trading range formed, as Pi bounced between the $0.7481 resistance and $0.7306 support. Since yesterday afternoon, the Pi Network price action has been contained within this range. This morning, Pi was able to reduce this range to 0.74 and above, but at 9:50 UTC, a massive death cross formed on the MACD indicator. This led Pi to jump off the cliff and plunge to $0.6327. Since then, Pi has faced sharp correction, moving up rapidly. The current Pi price is at $0.6825.

Pi Price Prediction: Can Pi Recover Fully From the Crash?

The latest plunge in the Pi coin price has left investors shocked. The dramatic crash has led the RSI to massively overbought levels. The correction has occurred, and Pi will try to consolidate around the $0.7 mark today. If further downward action occurs, $0.66 should be a key level to hold.