Pi Coin Crashes 85%: Why Pi Network Faces Struggles & What’s Next

Pi Coin plunges 85% from its peak as doubts grow over Pi Network’s future. Learn what’s behind the crash and whether a recovery is still possible.

Pi Coin, once hailed as a rising star in the crypto space, has lost more than 85% of its value since peaking near $3.00 in February. After hitting a low of $0.3955, the coin rebounded sharply, gaining over 33% in a single day to trade near $0.69 on April 5.

While the short-term bounce offers a glimmer of hope, investor sentiment remains deeply cautious, and the long-term viability of Pi Network is under scrutiny.

Pi’s market cap has climbed back above $4 billion, but it no longer sits among the top 30 cryptocurrencies by valuation. Despite the uptick, many analysts warn the rally could be short-lived unless key structural issues are addressed.

Delays, Delistings & Missed Milestones Weigh Heavily

The core issue plaguing Pi Network is its repeated failure to meet critical development milestones. The mainnet launch and Know Your Customer (KYC) implementation remain indefinitely delayed, sowing frustration among its user base of over 60 million. This uncertainty has led to Pi’s exclusion from major exchanges such as Binance and Coinbase, significantly limiting liquidity and market confidence.

Efforts to expand Pi’s ecosystem—including PiDaoSwap, Zito Realty, and Banxa integration—have yet to gain significant traction. PiDaoSwap’s delay in securing Know Your Business (KYB) approval forced the project to temporarily pivot to launching NFTs on the Binance Chain, further eroding community confidence.

Key Risk Factors:

• Mass Sell-Off Risk: Once the KYC bottleneck is resolved, millions of users may rush to sell their tokens, potentially triggering heavy downward pressure.

• Token Supply Concerns: With 6.79 billion tokens in circulation and a supply cap of 100 billion, dilution remains a major threat.

• Weak Exchange Support: Limited listings on mid-tier platforms restrict price stability and investor access.

• Broader Market Volatility: A drop in Bitcoin below $70,000 could drag speculative assets like Pi even lower.

• Stagnant Ecosystem: Projects such as PiFest and Zito Realty lack meaningful adoption to support price.

Technical Outlook: Bullish Bounce or Bear Trap?

Pi Network (PI/USDT) Technical Analysis – April 5, 2025

After bottoming out at $0.3955, Pi Coin has staged a strong technical rebound, currently trading at $0.693, up 33% in 24 hours. The move forms a bullish engulfing candle on the daily chart, reclaiming territory just below the 0.236 Fibonacci retracement at $0.729.

If momentum continues, Pi could retest the next resistance levels at $0.935 (Fib 0.382) and $1.10 (Fib 0.5). The RSI suggests an oversold recovery, and a rising trendline from February provides structural support. However, failure to close above $0.73 would invalidate the bullish thesis and expose the price to renewed downside toward $0.40.

Outlook: Can Pi Network Regain Trust?

While Pi Coin’s recent rebound is technically encouraging, the long-term outlook remains highly uncertain. The project’s success hinges on timely execution of its roadmap, including a verified mainnet rollout, comprehensive KYC, and meaningful adoption of its ecosystem.

Unless Pi Network can deliver on these fronts—and secure listings on Tier 1 exchanges—analysts warn the coin could revisit lows near $0.30 or even $0.10 in the coming months.

In short, Pi Coin’s path to recovery remains uphill, and without real-world traction, its speculative nature could keep it vulnerable to further sell-offs.