Pi Coin's Market Reality Is Diverging Sharply from the Relentless Optimism on Social Media

Pi Coin's market reality is diverging sharply from the relentless optimism on social media. The token has continued its downward slide despite the March 17 Open Mainnet launch

Despite the March 17 launch of Open Mainnet for Pi Coin (PI) sparking a brief rally to $1.50, the token has slid further, and its 24-hour trading volume fell by 22%.

As reports of new exchange listings for Pi Coin from smaller platforms like OKX and Bitget emerged, the lack of major exchange presence is fueling liquidity concerns.

However, a new wave of parody accounts on X (Twitter) are keeping the hype train rolling. These accounts, impersonating Pi Network founder Nicolas Kokkalis and other key figures, continue to tease major exchange listings and price surges.

These parody accounts, though clearly marked, often blur the lines between speculation and misinformation. They share posts in the voice of Kokkalis, hinting at upcoming announcements from major exchanges like Coinbase or Binance regarding Pi Coin’s listing status.

For instance, one parody account, @drnicolas_, shared a screenshot of a post by Coinbase’s Chief Legal Officer, Paul Grewal, on Pi Day. Grewal shared a picture of a Pi-branded pie, which the parody account claimed was a "secret message" indicating that a listing was imminent.

However, despite the hype and speculation, no new exchange presence for Pi Coin was reported, and Grewal’s post was part of Coinbase’s broader series of posts on common mispronunciations.

The parody accounts also engaged with major exchanges directly. In one instance, an account impersonating Pi Network co-founder, Cheng Peng, chimed in on a conversation where Binance was asked about its plans for listing new tokens.

The parody account responded by stating that Binance already had plans to list Pi Coin back in 2021 after a community vote, but that the listing still hadn't materialized despite the exchange frequently touting community feedback.

This comment sparked a chain of reactions from other X users who claimed to have participated in the 2021 vote, further fueling speculation and tagging Binance to get its attention.

However, despite the scarcity of good news on the official channels, and despite the parody accounts being clearly marked, a part of the Pi community seems more focused on the 'hopeium' shared by these parody accounts than on the facts.

As these parody accounts continue to fabricate stories and mislead the community, it remains to be seen how long it will take for the truth to come out and for investors to be aware of the market realities.