Pi Coin (PI) Price Prediction: Sharp Decline Below $0.70 Opens the Door for Further Losses

Pi Coin price has experienced a sharp decline below the $0.70 mark. This has been accompanied by increasing community frustration and reduced trading activity for the token.

Pi Coin price has tumbled sharply below the $0.70 mark amid rising community frustration and reduced trading activity for the token.

Pi lost about 20% last week, highlighting growing uncertainty within its ecosystem. Despite efforts by developers to engage users through initiatives like PiFest, skepticism toward project leadership and transparency continues.

Investors and community members are concerned about the falling Pi mining rate, which recently decreased by 1.18% to 0.0029030 Pi per hour. Many believe this reduction, along with a lack of communication from developers, is affecting market confidence. Technical indicators suggest a potential support level at $0.60. However, establishing a bullish trend will require a breakout above $0.72.

Market Trends Indicate Bearish Sentiment

Pi's market performance has been trending steadily downward. As reported by TokenPost, trading volumes plummeged significantly by 52% to $148 million in daily transactions.

At present, Pi is trading nearly 77% below its all-time high. This performance sparks concerns about the network's long-term viability. If current patterns continue, Pi Network price might approach its all-time low ($0.6152, reached in February 2025).

Technical analysis indicates Pi Network is developing a falling wedge pattern. This pattern suggests a possibility of price recovery if specific resistance levels are breached. However, analysts caution that a drop in Pi Coin price below $0.7100 could lead to an immediate decline toward $0.6900. Investors are keenly observing if this cryptocurrency can break through the $0.73 resistance. A breakout above this level might indicate a reversal from the current bearish market trend.

Community Discontent Over Transparency and Leadership

Within the Pi Network community, there is growing dissatisfaction with the project's leadership. The lack of clear and frequent communication from the Pi Core Team is a source of frustration for community members.

Many users believe the monthly updates provided by the team are insufficient and leave them in the dark about critical developments within the network. This frustration has led to calls for new leadership with stronger cryptocurrency expertise.

Additionally, concerns about the declining Pi mining rate are fueling speculation about diminishing interest in the project. Some community members argue that lower mining rewards, combined with the token's struggles in the market, are deterring potential new adopters from joining the ecosystem. These elements have contributed to the negative sentiment surrounding Pi Coin price in the short term.

KYC Controversy and Privacy Concerns

Controversy surrounding Pi Network's Know Your Customer (KYC) protocols is adding to its problems. A recent decision to mandate email-based two-factor authentication (2FA) is facing backlash from many participants, who view it as a breach of their privacy.

This change was introduced to address issues with SMS authentication in various regions. However, it has sparked debates about data security practices within the network.

The broader cryptocurrency community previously raised concerns about the project's strict identity verification requirements, which some argued contradicted blockchain's decentralized nature. Allegations suggesting Pi Network is a scam have further damaged its reputation and contributed to increased selling pressure on Pi. As long as these concerns remain unaddressed, investor confidence may continue to dwindle.

Can Pi Coin Price Recover?

Despite the current bearish market outlook, some analysts believe Pi still has potential for recovery. This possibility depends on breaking key resistance levels and regaining community trust. Optimistic predictions suggest Pi Network price could eventually rise toward the $3 mark. However, considering current trends, trading below $0.60 seems more likely in the coming weeks.

To achieve any significant turnaround, the project must address transparency issues and improve community engagement. Offering clearer future roadmaps would also be a crucial step. The coming days will be decisive for determining Pi's short-term price trajectory. Price movements between $0.7200 and $0.7250 will likely be determining factors. A clear break above the $0.73 level could reignite bullish market momentum, while further price declines might push Pi below $0.69, worsening stability concerns.