Pi Network’s Coin Stares At 30% Loss Potential Amid ‘Big Scam’ Allegations

​Pi Network’s native cryptocurrency, Pi Coin, has experienced a major decline today, dropping around 17.50% to below the $1 mark. A flurry of bearish indicators suggests that the cryptocurrency may decline another 30% from the current price levels.

Why is the Pi Coin Price Crashing?

One of the primary factors contributing to Pi Coin’s decline is the delay in its anticipated listing on major cryptocurrency exchanges, notably Binance.

The exclusion of Pi Coin from Binance’s “Vote to List” campaign has dampened investor sentiment. Many had hoped for increased accessibility and liquidity through such listings. ​

Additionally, the Pi Network’s development team has not provided a clear roadmap for the Open Mainnet launch. This lack of transparency has led to growing discussions about the project’s legitimacy and future prospects, further eroding investor confidence.

$Pi Coin is a complete nonsense. I waited for the lock-up period, and on the lock-up day, 121 of my coins were returned. Now it says only 56 are transferabl and should wait again

Pi Coin is a big scam.#Pi #OKX #Binance #ByBit #PiNetwork pic.twitter.com/uAIBXWQDoe

— Yatırımcı Walter White (@muslumanwalter) March 15, 2025

Another factor influencing Pi Coin’s price is the recent and upcoming token unlocking events.

On March 17, approximately 23.1 million Pi tokens were unlocked, with an additional 23.4 million tokens set to be released on March 21. Such large token releases often lead to increased selling pressure, as investors may choose to liquidate their holdings, thereby driving the price down.

The combination of delayed exchange listings, an unclear development roadmap, substantial token unlocks, and a weak broader market has culminated in a sharp decline for Pi Coin.

Pi Coin’s Next Support Target is 30% Below Current Levels

PI has dropped below $1.00, nearing key support at $0.75 within a descending channel. A breakdown below this level could push PI toward $0.60, its last major support before uncharted bearish territory.

The RSI is at 21.79, signaling oversold conditions, but with weak bullish momentum, a rebound remains uncertain. PI trades below the 50-day EMA, reinforcing its bearish trend.

With market sentiment weighed down by delayed exchange listings and token unlocks, buyers must defend $0.75 to prevent a steeper decline. A loss of this level could accelerate the sell-off toward $0.60 or lower.