TLDR
- This week, Pi Network's price has taken a 20% nosedive, removing substantial value from the token.
- Despite a successful PiFest with high engagement, the Pi Core Team is under fire for its opaque communication practices.
- Binance's exclusion of Pi Network from its listing initiative has cast clouds over its potential for a significant exchange debut.
- Investor interest is waning, as seen in the marked decrease in trading volume within the Pi ecosystem.
- Calls for leadership overhaul and clearer communication grow among the Pi Network community.
Amidst fading trading activity, Pi Network's cryptocurrency has fallen to $0.6646, stoked by investor dissatisfaction with the Pi Core Team's lack of clarity and Binance's snub in their latest listing initiative.
In the last week, the sharp 20% drop in PI's value has stirred concerns around sustaining the key support line at $0.60, sparking debate over the project's future trajectory.
Binance Snubs Pi Network Again
Supporters of Pi Network face a setback as Binance passes on including PI in its Vote to List initiative for the second time, leaving the community disappointed.
The latest Vote to List on Binance showcases 12 selected tokens like VIRTUAL and BIGTIME, focusing on utility tokens this round instead of meme coins.
Pi Network cannot take part in Binance's listing initiative due to its restriction to BNB-only projects, amplifying Pi enthusiasts' concerns.
Even with a listing on BTCC Exchange, Pi Network has failed to gain upward price traction.
Communication Transparency Issues
Despite announcing that over 125,000 sellers engaged in PiFest, skepticism remains regarding the event's real influence on the community.
Dr. Altcoin criticized the Pi Core Team for the plummeting trading activity focused on cashing out Pi, indicating disconnect with ordinary holders' struggles.
Investors find Pi Core Team's routine updates too predictable, arguing for more interaction on mainnet delays, listings, and KYC resolutions.
Calls for Leadership Change
A vocal group within the community advocates for leadership renewal, seeking guidance more attuned to crypto markets and community engagement.
Proposals for a decentralized governance framework within Pi aim to enhance transparency and decision-making.
The recent 1.18% cut in Pi Network’s mining rate to 0.0029030 π an hour has stirred miner apprehension over diminishing returns.
For this month\"s #PiNetwork The mining rate decreased from 0.0029378 𝝅/hour to 0.0029030 𝝅/hour, marking a 1.18% drop.
Not as much #PiCoreTeam pic.twitter.com/e9x0GqcE71— Pioneers π (@pioneers_pi) April 2, 2025
Pi Coin faces technical hurdles, forming a falling wedge pattern with a $0.60 support level that, if breached, could mean a return to $0.6152 lows.
A 52% drop in trading volumes to $148 million and fading buying signals could provoke more sell-offs if support at $0.60 isn't maintained.
Should Pi's price manage to break past $0.71-$0.72 with convincing volume, it may disrupt the decline, aiming for next resistance at $0.75-$0.78.
Despite hurdles, experts see growth potential for Pi if it earns major listings and strengthens transparency, possibly hitting $3 or more down the road.
Currently, Pi Network dances around leadership woes, decreased trading, and a murky future, with the community's reaction expected to contour its near-term path.
As the coming days unfold, the key will be seeing whether Pi Network can nurture price stability or buckle under market strain.
