Is Pi Network Dying? Here's Why Pi Coin Might be a Sell Now as Price Crashes

Pi Coin value fell to $0.90 before slightly recovering to $1.00. This dramatic decline has caused Pi price to tumble from rank 11 to 23 on CoinMarketCap.

Pi Coin has fallen to $0.90 on CoinMarketCap, recovering slightly from a low of $0.70 earlier today. The token is now trading hands at $1.04 at the time of writing.

The dramatic decline has seen Pi price tumble from rank 11 to 23, with the market cap also taking a hit, now sitting under $7 billion.

Many early miners who have been collecting Pi for about six years are finally cashing out their holdings. While this profit-taking is to be expected, the rapid decline from $3 to under $1 has raised serious concerns about the coin’s future.

Anticipated Binance Listing and Scam Accusations

The anticipated Binance listing that many Pi supporters have been waiting for still hasn’t materialized. Although Binance posted a poll on X about potentially listing Pi, no further developments have followed.

More troubling are the scam accusations from industry figures.

Co-founder of Cyber Capital, Justin Bons, called Pi a “straight-up scam on an MLM basis.” He criticized its centralized structure and questioned whether any real mining actually occurs on the network.

However, Umar feels that most users wouldn’t consider Pi a scam. He highlighted how most miners only invested time, essentially receiving free coins through the mobile mining process.

Crypto Veteran Urges Bitcoin Maximalists to Pay Attention to These Indicators

As crypto markets prepare to reverse their downward trends, we could see Pi Coin return to its previous $3 price point or potentially climb even higher.

Once reaching rank 11, the coin has taken a significant hit with the market cap also taking a substantial decline.

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