Pi Network's Cryptocurrency, Pi Coin (PI), Continues to Face Significant Downward Pressure

Pi Network's cryptocurrency, Pi Coin (PI), continues to face significant downward pressure as its price has fallen below the $1 mark.

Pi Network’s (PI) cryptocurrency continues to trade below the $1 mark as it faces significant downward pressure. The token dropped 12% on Thursday to $0.81, extending its weekly losses to 28%.

This decline comes amid delays in the mainnet launch, Binance listing, and growing concerns within the Pi community about the project’s direction.

Where Can I Buy Pi Coins?

Pi Network’s cryptocurrency, Pi Coin (PI), has seen its price fall below the $1 mark amid ongoing token unlocks and criticisms from prominent crypto figures.

Pi Network’s native token, PI, was trading at around $0.864 on Thursday. This represents a 12% decrease from the previous day and marks a weekly loss of 28%.

Despite a slight recovery from earlier lows of $0.71, the token has seen better days. Investors can vividly recall the coin’s peak of nearly $3 in late February 2025. Since then, PI has lost over 68% of its value.

As the price continues to drop, investor sentiment has waned. Many Pi holders are questioning whether the coin can recover to trade above the $1 level any time soon.

Trading volumes have also decreased by over 30%, falling below $200 million. This lack of activity further indicates a lack of interest in the token at current price levels.

One key factor behind the price decline is the large number of Pi tokens being unlocked and moved to exchanges. Nearly 8 million tokens have been transferred in the past week alone. This has created an oversupply in the market, putting downward pressure on the price.

The daily rate of token unlocks has slowed from 13 million to 3.8 million. This reduction might help ease some of the selling pressure. However, concerns remain as approximately 99.3 million more Pi tokens will enter circulation in the next 30 days.

This influx of new tokens could overwhelm the market and lead to further price declines unless there is a corresponding increase in demand.

Community members have expressed frustration with the Pi Network Core Team’s silence on critical updates. They want answers about delays in the mainnet launch and the Binance listing that many had hoped for after a supportive community poll ended on February 28.

Some users have alleged that the Core Team is moving away from its promise of full decentralization. They claim the project now seems to be courting large institutions instead. This shift has caused concern among early supporters who believed in the network’s original vision.

Despite these issues, some analysts remain optimistic about Pi’s future. Technical analysis suggests that if Pi can maintain support around the $0.71-$0.86 zone, it could potentially bounce back toward a $2 target.

This would represent a significant recovery from current levels but faces strong resistance.

Pi Network Partners with PiDaoSwap Amid Criticism

The network has announced a partnership with PiDaoSwap, a platform driven by the community to enhance governance and transparency. This move could help rebuild confidence in the project’s long-term vision.

Pi Network has faced criticism from prominent figures in the crypto industry. Bybit (CRYPTO: BIT) CEO Ben Zhou and Cyber Capital Founder Justin Bons have both publicly called Pi Network a “scam.”

Bons, in particular, criticized the project for being “extremely centralized” while claiming to be decentralized. He also accused the project of using multi-level marketing tactics through its referral programs.

According to Bons, the core technology was “simply copied from Stellar (CRYPTO: XLM).” He further claimed that the project’s mainnet launch has been delayed for five years.

To address the current price issues, some analysts have suggested that the Pi Network team should burn between 60-100 million tokens.

This reduction in supply could help stabilize the price and reduce volatility.

According to data from Token Terminal, the Pi Network token has a total supply of 163.884 billion tokens and a circulating supply of 115.68 billion tokens.

The token price is currently down 11.5% in the past 24 hours and has seen a weekly loss of 27.8%.

Pi Network is a blockchain project that aims to create a new cryptocurrency called Pi Coin and a peer-to-peer payment network. The project was launched in 2018 by three Stanford University graduates.

The project has gained a large following, with over 71 million users in the past five years. However, the project has also faced criticism for its alleged scam activity and slow progress.