Pi Network (PI) Loses Momentum as Price of Pi Coin Continues to Fall

Pi Network (PI) seems to be losing momentum as the price of Pi Coin continues to fall, pressured again by the sell-off and now

Jakarta, pintunews.com – Pi Network (PI) appears to be losing momentum as the price of Pi Coin continues to fall, pressured again by the sell-off and now slipping to below $0.70. PI trading activity within its ecosystem has also decreased, signaling that investor enthusiasm is starting to fade.

Furthermore, the PI token unlocking process that has taken place in recent weeks has also worsened market sentiment towards the project.

As of April 2, 2025, the first PiFest in Open Network showcased record participation. A total of over 125,000 registered sellers—including over 58,000 active sellers—and 1.8 million Pioneers have used Map of Pi, highlighting real-world Pi utility globally.

Pioneers and sellers at the first #PiFest on Open Network showcased amazing initiative and brought the spirit of cooperation to new heights. We're grateful for everyone who participated and contributed to this milestone event.

The first PiFest on Open Network has set participation records: over 125,000 registered sellers (including 58,000+ active sellers) and 1.8 million Pioneers using the Map of Pi feature to highlight real-world Pi utility globally.

The stellar contributions of the Early Adopter Program participants, who volunteered their time and effort to build the Pi blockchain, have also been crucial in laying the foundation for a decentralized ecosystem.

The event highlighted the increasing utility of Pi with projects like Map of Pi engaging millions of Pioneers in discovering local businesses and services around the world.

However, the reaction from the community was the opposite. Responding to the reality of PiFest, community leader Dr. Altcoin said,

“Since PiFest started, Pi trading activity in the ecosystem has hit rock bottom. The only trading that happens is buying and selling Pi for cash.”

He also criticized Pi’s core team, saying that the co-founders seemed to “not understand the real conditions that the community experiences on a daily basis.”

Other criticisms have also come regarding the Pi Core team’s communication style, which has been stagnant since the enclosed mainnet phase. Accounts such as Dao World felt that the monthly updates were too predictable and not strong enough to keep a large community engaged.

The Pi Core Team's communication style has not changed at all from the enclosed mainnet period to now. We only hear the same predictable updates once a month. It's difficult to maintain a large community with this approach. We need a new communication method, a new community management team, and more transparency in communication..

Now, many community members are calling for more transparency in communication, and some are pushing for a new leader who truly understands the crypto world.

On the other hand, concerns over fraud allegations directed at the Pi team still persist. In fact, Ben Zhou, founder of Bybit, once stated that the reason his exchange does not plan to list Pi Coin is because of the negative issues related to this project.

Pi Network Lowered Base Mining Rate by 1.18% This Month

In other news, Pi Network has decreased the base mining rate again this month by 1.18%, now standing at 0.0029030 π per hour. This adjustment continues the gradual downward trend in mining rates, which has been part of the Pi network's mechanics since its inception.

Some community members speculate that the declining interest in mining activities could be related to Pi Coin's low trading value in the current market.

Although rumors of Pi Network listing on major exchanges such as Binance and Coinbase continue to circulate, until now there has been no real realization.

Meanwhile, the BTCC exchange announced the addition of Pi for spot trading, but the move did not push the price of Pi Coin up significantly.

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Where is Pi Coin Price Headed Next?

In the last seven days, Pi Coin's price has plummetered by 20%, with the next crucial support level at $0.60. This sharp correction below $0.70 was also accompanied by heavy selling pressure, reflected by daily trading volumes falling 52% to $148 million.

As of April 2, 2025, Pi Network is forming a classic technical pattern known as a falling wedge, and is testing its lower limit around $0.687.

If there is a confirmed breakout with volume above the $0.71-$0.72 range, this could be a bullish signal pushing the price up towards the resistance area at $0.75 to $0.78.

Some market analysts still hold out hope that the Pi price could reverse course and reach $3 or more in the long term. However, Pi's price predictions for April expect its exchange rate to remain below $0.60.

On the other hand