Pi Coin (PI) has had a rough start. Just three months after its debut on crypto exchanges, the token has shed over $14 billion in market cap, with its price plummeting more than 75% from its all-time high. Technical indicators and growing community concerns suggest that unless the trend reverses, PI could soon hit the critical $0.40 mark.
From Breakout Launch to Fading Trust
Pi Coin launched with a bang, reaching a market cap of $19.4 billion on February 27, briefly flirting with the top 10 cryptocurrencies by size. But today, it trades around $0.73, down sharply from its February peak of $2.99. In just the past week, the coin lost over 50% — largely due to disappointment following Pi Network’s appearance at the Consensus conference.
Even being listed on OKX — the world’s fifth-largest exchange by volume — failed to boost sentiment. Hopes of a Binance listing have so far gone unanswered.
Skepticism Grows as Community Confidence Wanes
Mid-May, the Pi Network team announced a $100 million venture capital fund aimed at growing the ecosystem. But rather than excitement, it triggered skepticism and backlash.
Influencer Dr. Altcoin accused the core team of lack of transparency, alleging they control over 10,000 wallets while the community can only verify a handful. He suggested that trust is eroding rapidly, especially as some early adopters still defend the team without evidence they haven’t been selling PI.
Kim W. Hong joined the criticism, highlighting the lack of meaningful ecosystem progress. Only 19 of the promised 100 dApps are currently operational. According to him, Pi is failing to meet user expectations, leaving both investors and community members disappointed.
Bearish Technical Signals Suggest $0.40 Is Within Reach
PI's daily chart is showing multiple bearish indicators that point to further downside:
🔻 The MACD has flashed a sell signal — its line has dropped below the signal line, signaling increasing selling pressure.
🔻 The Awesome Oscillator (AO) has turned red and is shrinking — a sign that bullish momentum is weakening.
🔻 The 50% Fibonacci retracement level at $0.70 is key — if the price breaks below, the next likely target is $0.40.
Conclusion: Pi Coin Faces a Crisis of Confidence
Despite its ambitious vision and well-funded development plan, Pi Coin is suffering from a breakdown in trust. If sentiment doesn’t shift and technicals continue to deteriorate, a drop toward $0.40 is highly probable.
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