TL;DR
- PI has taken a nosedive below $0.70 for the first time since the days of yore (or late February, to be precise).
- One disgruntled community member suggests that the Pi Network team might need a few more hands on deck after their Open Network launch fiasco.
What Can Put the Brakes on the Collapse?
Ah, the cryptocurrency market! A veritable rollercoaster of emotions, where fortunes are made and lost faster than you can say “cryptocurrency.” Among the unfortunate souls is our dear friend PI, the token of the ever-controversial Pi Network, which has recently plummeted like a lead balloon.
Just a few hours ago, the price of PI took a tumble below $0.70, marking an 11% daily decrease and a staggering 70% drop over the past month. One might say it’s the financial equivalent of a pratfall! 🤦♂️
This freefall has left the community in a bit of a tizzy, with some industry insiders wagging their fingers at the team behind the project and offering unsolicited advice on how to revive the poor thing.
One particularly vocal user on X, boasting a following of over 130,000, lamented that Pi Network is “probably in its most difficult situation since the start of the project in 2019.” They went on to suggest that the Core Team appears to be as prepared as a cat at a dog show when it comes to handling the responsibilities of an Open Mainnet.
“That’s why their announcements are utterly off the mark, new features are as useful as a chocolate teapot, and the community feels as let down as a balloon at a pin party,” the user added.
They proposed that the Pi Network team ought to hire more people, decentralize the native token, and grant developers the freedom to create as they please—because who doesn’t love a bit of creative chaos?
Another crucial factor that might just give PI a fighting chance is a sprinkle of support from the bigwigs of cryptocurrency exchanges. Rumors have been swirling like a particularly enthusiastic tornado that Binance might just allow trading of this beleaguered asset.
Last month, the company conducted a vote to see if users wanted to see PI listed on their platform. Over 86% of voters clicked “yes,” but the exchange remains as silent as a mime in a library on the matter.
Notable trading venues that have already welcomed PI into their fold include Bitget, Gate.io, OKX, MEXC Global, CoinEx, and a few others who are probably wondering what they’ve gotten themselves into.
Pump After This Level?
Recently, the illustrious X user MOON JEFF predicted that PI’s price could continue its descent to a lowly $0.60, dubbing it “the only support left.” However, he also expects a grand resurgence to a new all-time high of $5 should this bottom be reached. Talk about a rollercoaster ride! 🎢
MOON JEFF has been urging the masses to buy PI in the $0.50-$0.60 range, calling it the “accumulation zone.” Sounds like a fancy term for a bargain bin, doesn’t it?
Buy $PI at $0.5-0.6 range.
Many people have their orders around the range ready to buy. This will be the $PI accumulation zone. If you have coins, don’t sell cheap. #PiNetwork
— MOON JEFF (@CRYPTOAD00) March 31, 2025
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2025-03-31 13:48